Maldives mulls leasing private islands to raise revenue

The Maldives government is currently considering plans to raise revenues for leasing some small islands to private individuals, Sun news reported

Nov 25, 2020
Image
A

The Maldives government is currently considering plans to raise revenues for leasing some small islands to private individuals, Sun news reported. 

The government is proposing amendments in tourism laws for that purpose and hopes to charge a substantial amount as acquisition fees. Economic Minister Fayaz Ismail estimated that the state could raise $15 million as the acquisition costs of islands under the concept of private islands. 

“Under this law, the wealthy are provided these private islands for personal use. This is something commonly done throughout the world, in a good model. (We) can estimate a large revenue from a few islands as a limited edition,’ said the economic minister in a parliament committee meeting. 

Around 20 islands are in consideration for the purpose. The Maldives’ government, Fayaz said, is already in talks with interested parties abroad. 

The task would be undertaken by the existing government agencies and no new body will be formed for the same. However, some members of the parliament raised concern over it, saying it could promote corruption in government. 
 
Tourism Minister Abdullah Masoom assured the members and said the concept is new to the Maldives but it is visible elsewhere in the world. 

downloadingmymind.com

SPS-NBN

News Behind the News Special Studies

Tweets about SAMonitor
SAM Facebook

Newsletter Subscription

The subscriber's email address.
Stay informed - subscribe to our newsletter.