Economic Minister: No plans to privatize any airport


Economic Ministry has been hit with criticism over a recent amendment to the foreign direct investment policy to allow 100 percent foreign-owned companies to invest in operation of airports in Maldives.

In a press conference on Monday night, Fayyaz said the government is merely reverting the foreign direct investment to its origin.

Fayyaz said that the opportunity to operate airports was open for 100 percent foreign-owned companies back during former President Abdulla Yameen Abdul Gayoom’s administration, and that it was the current administration with amended the foreign direct investment policy to reduce the share to 75 percent.

He said that the foreign direct investment policy was reverted back following some investors to allow 100 percent foreign-owned companies to operate airports as the government seeks investors for several planned airport development projects.