President Dr Mohamed Muizzu has reaffirmed his commitment to seeking solutions to the challenges facing the boat-building industry, ensuring that this sector was one where Maldivians would have the opportunity to thrive.
He made the statement speaking to the residents of Innamaadhoo, sharing his vision for the future of the sector.
As such, he noted that financing was the biggest challenge facing the sector. The President said the Administration would seek to provide affordable financing options through the banking system, facilitating the sector’s growth.
The President expressed his dismay over the number of expatriates in the sector, adding that a training center will be created in the island to hone and build younger, local talent. This, he said, will ensure that the sector remained a truly Maldivian sector, reaffirming the Administration’s commitment to it.
He added that the other challenge facing the sector was the issue of space and short-term leases. Noting that there are difficulties in investing in such land and implementing major projects as councils have been leasing land for short periods, the President said he would provide necessary measures to strengthen investment confidence in the sector by providing long-term leases to councils.
The President said this was not specific to Innaamaadhoo alone, but one that will be implemented nationwide. He reaffirmed the Administration’s commitment to promoting this as a Maldivian sector.
