Former President and Maldivian Democratic Party (MDP) Chairperson Mohamed Nasheed has said that welcoming foreign investment is key to strengthening the Maldives’ economy and safeguarding its independence.
In a post on X on Sunday, Nasheed said that among the nations freed from colonial rule, those that progressed were the ones that welcomed foreign direct investment and made the most of those opportunities.
However, he stressed that such investment cannot be limited to extracting raw materials. The process must lead to greater local production, he said.
“Foreign direct investment did not affect the freedom or independence of Singapore or South Korea,” Nasheed said.
Instead, he said, foreign investment strengthened the economies of those nations, giving them the strength to protect their independence and securing their place on the international stage.
Nasheed has openly supported the Maldives Waterfront and Marina project, which UAE-based Eagle Hills is developing in Rasmalé.
His remarks come at a time when the USD 20 billion project has drawn criticism from some within the opposition MDP, with some party members taking part in protests organised against it.
At the MDP National Council’s most recent meeting, Nasheed declared his full support for the project.
Responding to concerns raised by council members about the 99-year lease granted to Eagle Hills, and claims linking the project to Zionism, Nasheed urged members not to speak about future events that cannot be proven.
“The claims linking this project to Islam or to Zionism are not provable. We will not be able to point to any provable change to the Maldives’ Islamic faith or the religious beliefs of Maldivians because of this project,” he said.
Nasheed’s latest remarks on X reaffirm his support for foreign investment in the Maldives as the debate over the Rasmalé project continues.
