“Engage private sector and enable diversification of economy for sustainable development”

The Maldivian administration’s key economic strategy is to engage the private sector and enable the diversification of the economy for sustainable development, said Mahmood Razee, Minister of Economic Development in the Republic of Maldives who was in the country to attend the fourth Annual General Meeting of the Sri Lanka-Maldives Bilateral Business Council recently.  

Sri Lanka-Maldives Bilateral Business Council President Hussain S. Hashim (left) addresses the Annual General Meeting. Others from left Hussain Shihab, High Commissioner for Maldives; Lilakshi de Mel, Senior Assist. Secretary General – The Ceylon Chamber of Commerce; Jayantissa Kehelpannala, Immediate Past President; R.D.S. Dela, High Commissioner for Sri Lanka in Maldives

Mahmood Razee, further stated that they were looking beyond the traditional sectors of tourism and fisheries, and other potential areas such as construction, transportation and renewable energy.

Hussain Shihab, High Commissioner of Maldives said that the present government of Maldives was stressing the importance of commercial diplomacy and brining in foreign investments into the country. He said that this had given abundant opportunities to Sri Lankan businessmen to make investments in the Maldives. Inviting Sri Lankans to invest in Maldives he stated that the doors were wide open for Sri Lankans to do business in the Maldives.

He stated that many Maldivians came to Sri Lanka for education, healthcare and leisure and make positive contributions to the Sri Lankan economy.

Hussain S. Hashim, the President of the Sri Lanka-Maldives Bilateral Business Council said that in order to assist its members and to further enhance matchmaking of business activities, the council participated at the Maldives Hotel Asia Fair, 2011 where the products and services of its members were promoted. More than 500 visitors including trade partners from Maldives and regional countries had visited the stall, he said.

Speaking of the credit line offered by the Government of Sri Lanka to the Maldives, Hashim stated that it would provide additional opportunities to business partners in the Maldives who were importing goods from Sri Lanka and it would ease the difficulties faced due to the shortage of foreign currency in Maldives.

Hussain Hashim who served as the President of the council in 2010/2011 was re-elected for a second term in 2011/2012. Tikiri Ellepola, Aitken Spence Travels and Niral Kadawatharatchi, Freight Links International were re-elected as Vice Presidents for the 2011/2012 period.

The Executive Committee elected comprised John Keells Holdings, Eastern & Allied Agencies, Ceylon Biscuits Ltd., E.B. Creasy & Co. Ltd., Freight Links International Ltd., HSBC, Nestle Lanka Plc, Pyramid Wilmar Ltd., and Seylan Bank.