Maldives to offer incentives for tourism investment in 5 underserved atolls

The government will introduce new incentives for tourism development in five atolls with the lowest number of resorts, President Dr Mohamed Muizzu announced on Saturday.

The atolls identified for these measures are Haa Alif, Haa Dhaalu, and Shaviyani in the northern region, and Thaa and Laamu in the south. The President stated that the aim is to encourage greater investment in tourism in areas where development has so far been limited.

Speaking at a press conference, the President said that land rent rates in the five atolls will be reduced to attract investors. He added that amendments to existing regulations are currently being finalised to implement the policy changes.

“We have introduced a time-limited concession for these five atolls only. During this period, significant reductions in land acquisition costs will be applied. Import duties will also be eased,” he said.

The President expressed confidence that the reduced costs and other concessions will encourage new tourism businesses to begin operations in these atolls. He added that the government expects investment interest to materialise during this month.