The cabinet has today decided to extend the duration for
development of tourist resorts, tourist hotels, training
resorts, transit hotels, and city hotels, for an additional
13 months, for parties who had completed 50% of the work on
those facilities, and requested an extension.
The decision was made at today's meeting, following
deliberations on a paper presented by the Ministry of
Tourism, Arts and Culture.
At today's cabinet meeting, discussions were also held on a
paper presented by the Ministry of Economic Development, on
amending Act Number 25/79, Foreign Investment Act.
Members made the decision, for the Ministry of Economic
Development to carry out the amendment procedure for the
Act currently being implemented in the Maldives. The
cabinet also advised the President on constituting a
Foreign Investment Advisory Board, to develop and
strengthen further foreign investment in the country.
Furthermore, the cabinet decided on forming a National
Council for Environment, following discussions on a paper
presented by the Ministry of Environment and Energy.
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