|
The Republic of Maldives is an
Indian Ocean archipelago of 1,100 palm fringed coral
islands, grouped into 26 atolls, located off the
southern tip of India. The country is 820 kilometers
long and 130 kilometers wide, with a surface area of
90,000 square kilometers.
The population of the Maldives is approximately
360,000; a third of which live in the capital,
Male'. A further 200 islands are inhabited by local
people and the country also boasts around a hundred
luxury resort islands. The country's pristine
environment and exquisite marine ecosystem attracts
600,000 tourists per year and sustains a large
fishing fleet. |
|
According to World Bank's 2006
Investment Climate Assessment, Maldives ranked
highest in the region in terms of World Banks' ease
of doing business index. The Maldives' liberal trade
environment, dynamic private sector and development
oriented legal structure all contribute to a climate
conducive to trade and investment. Most recently the
World Bank and IMF have shown strong support towards
the recent government reforms providing strategic
financial assistance for the onward stability of the
economy.
The Maldives is socially cohesive, with a homogenous
population that shares one culture, religion and
language. Furthermore, the Maldives enjoys political
stability, as witnessed by the recent peaceful
transfer of power to a new, democratically-elected
and pro-market and business friendly President. A
new constitution, enacted in 2008, that enshrines
the separation of powers between the executive,
legislature and judiciary, is testament to the
country's stature as a modern and forward-looking
nation.
The number of foreign companies investing in the
Maldives has been increasing yearly for over a
decade and foreign companies now provide air
transport, resort management, manufacturing,
management and accounting services.
The economy has enjoyed robust growth averaging
close to 8 percent per annum during the last decade,
particularly through the success and continued
expansion of its tourism industry. To build on this
growth, the new administration recognizes the need
for greater private sector involvement in the
Maldivian economy. |