Economic Minister Muhammad Saeed have stated that the two Chinese projects in Maldives are CMF Bridge project and the airport runway project, and that these projects are the most important projects to Maldives at the moment.
Speaking at a function held by PPM last night, minister Saeed said that 54 percent cost of the bridge is covered by the government of China as free aid. He said that 85 percent of the remaining 46 percent is financed through a long term low interest loan from China.
The minister said that the development of the runway of Velana Airport is the most important project for the economy of Maldives. He said that resort beds are increasing and without a second runway the airport cannot be developed. He said that the government’s target is to serve 7.5 million passengers annually and it cannot be done without developing the runway.
He said that those who want the details of these projects can approach the ministry and obtain it and there is nothing the government should hide regarding the projects. In addition, the minister said that there are investments from Singapore and the EU as well in Maldives. The minister noted that India is the closet partner of Maldives and that there are investments of India in Maldives as well.