President Yameen Abdul Gayoom has stated that 25 new resorts will be opening in the Maldives in 2017, during the Presidential Address at the opening session of this year’s People’s Majlis.
According to the official translation of President Yameen’s speech, 25 tourist resorts will be developed in 13 atolls and a tourist hotel will be developed in GA. Kooddoo, increasing the bed capacity in the industry by 5,275. He also stated that the Maldivian economy, which fell by 3.9% in 2016, is expected to grow by 4.7% this year.
The President also stated that 56 investments have been registered excluding those in the tourism industry, under the government’s plans to diversify the Maldivian economy, and that there is an expected USD 1.483 billion of proposed initial investments in the plans for the next five years.
He also spoke about the I-haven project planned to commence in northernmost Maldives, stating that the detailed plans for the project will be completed by April this year and that the government would drive to secure foreign investments to begin physical work on the project.