The government has amended its cross-subsidy policy to require an investment of at least USD 100 million for national security projects.
The change was made through an amendment to a Presidential Decree which governs projects eligible for cross-subsidy investment and establishes the minimum investment thresholds applicable on the projects.
According to the original Presidential Decree gazetted on 21 March, the opportunity is open to those who wish to invest in the projects on a cross-subsidy basis. While the decree stated that at least USD 15 million has to be invested in the projects, the decree has now been amended to increase the amount of minimum investment required for national security projects to USD 100 million.
While the government has planned projects to protect and safeguard the independence, sovereignty and national security of the country, the details of the projects have not been shared thus far. However, the government is working hard to strengthen the Maldives’ military capabilities and safeguarding economic interests, and significant progress has been made in these efforts.