Some foreign investors who have invested in the Maldives have praised the Maldives, describing it as a favourable and attractive destination for investments due to government cooperation and streamlined processes. The investors were speaking during a panel discussion at the Maldives-Singapore Business Forum recently held in Singapore.
Thomas Adaemmer, Managing Director of Aareal Bank AG’s Asia division said the bank has provided financial backing to Maldivian projects since 2006. Over the years, the Maldives has been noted as a very active tourism market that receives a high volume of public tenders, he said. This is due to the transparent and accessible bidding procedures, and strong support from the government for foreign investors, he added.
"The Maldives offers accessible and straightforward stages for investment in the Maldives, especially in the tourism sector. The Maldives’ tourism sector is one of the most active tourism markets in the Indian Ocean,” Adeammer explained.
Speaking at the panel discussion, Pontiac Land Group’s Chief Executive Officer David Tsang said the company first entered in the Maldives tourism market in 2015. From that point on, he believed that the tourism market in the Maldives could be further expanded, he said. Noting that Maldives tourism was mostly focused on couples’ resorts at the time, he said the sector has since evolved to become a popular family destination. Tsang attributed the Maldives’ tourism growth to the opportunities and supported provided to investors by the government. He added that Pontiac Land has now expanded its investment portfolio from one to four resorts across the Maldives.
The Maldives-Singapore Forum was attended by both Maldivian and foreign investors. The forum was held to provide information to Singaporean investors on investment opportunities available in the Maldives. The government is holding business forums in various countries in order to increase investments in the Maldives.