Mohamed Ali Janah ‘Jana’ began his career in 1987 by undertaking small projects for his family business, Alysen Services Private Limited. Since then, he has completed 52 resort projects and is now a pioneer in the construction and tourism industries of the Maldives.
With over 30 years experience in the construction industry, Janah has served six-times as the president of the Maldives National Association for Construction Industries (MNACI) and remains in that position today.
Janah is also a key partner in realizing the million-dollar investments of world-renowned brands such as Soneva, Four Seasons and Shangrilla and is a partner of one of the world’s most exclusive resorts, Waldorf Astoria.
He is, undoubtedly, one of the most influential figures in the country’s construction and tourism industry. In an exclusive interview with Adhadhu, Janah discussed the economic outlook as the country comes out of the covid pandemic.
Managing covid: A partnership of government and private sector
No one perceived the danger and magnitude of covid when the outbreak was first reported in late 2019. But within just two years, millions of people had tested positive and thousand had died from the disease.
Amidst the global lockdown, societies began to collapse and economies began to crumble. Maldives, highly dependent on the tourism industry, was not exempt from the economic and financial consequences of covid.
Janah speaks with Adhadhu's Saaif Shiyad. -- Photo: Mohamed Shabin/ Adhadhu
Janah believes that holding discussions with stakeholders of all industries was an important step taken by the government to manage the situation. He praised the Maldives as a role model in finding a way out of covid.
“We were perfect examples for the world. We were showing the world how to look after people and manage this [covid]. The covid management facility was built with the combined efforts of many people. Private contractors also worked there. So this is something we achieved through a partnership between the Maldives government and private sector,” he said.
The key to finding balance is discussion. We realized that communication, listening and negotiating were important elements. A lot of people see Maldives and Dubai as success stories in managing covid." - Janah
Investors are interested, but stability is essential
As a person who works closely with investors, Janah does not believe the claims that foreign investors are reluctant to invest in the Maldives. Contrarily, he places Maldives as a top destination for foreign investment.
“They [investors] have no concerns over Maldives. An American investment firm said their assessment shows Maldives as a tier one country. London, New York, Dubai and Maldives - these places have the same category of investment appetite,” he said.
Janah with his Qatari billionaire partner Mr. Ramez Al Khayyat at their resort Waldorf Astoria Ithaafushi Maldives, one of the world’s most exclusive resorts. -- Photo: Mohamed Shabin/ Adhadhu
Janah stated that Maldives is currently at a good place economically and he foresees the next two or three years as “happy and prosperous”. But he warned that certain conditions must remain in place for that to come true.
“One thing is having stability and continuity. The government should not be changing frequently and the government should be able to run the country smoothly and with stability. We should remain at the top of the Ease of Doing Business Index,” he said.
Maldives remains a convenient option for investors and the government treats that reality with careful optimism, Janah said. He added that this is a critical time for the Maldives with the potential to become the country that draws most foreign investment.
Economy revives with 1.5 billion dollars worth of investments
The value of foreign investments in the Maldives are growing by the day. Investments worth millions have now turned into billions and the income circulating in the economy is also rising. Janah talked about something that could bring more hope for the economy.
“Around six to eight investment projects with partners from the middles east and the far east have already been approved. These are not just dreams. I want to announce that through our partnership, 1.5 billion dollars worth of investments have been approved for the Maldives.”
Janah foresees prosperous days for the Maldives economy. -- Photo: Mohamed Shabin/ Adhadhu
Businesses are being registered, approvals are being sought, masterplans are being finalized and the projects are running, he added. Janah guaranteed that these projects will bring new benefits to the economy.
“The biggest change will be seen in dollars. The dollar rate can be maintained. The second thing is real estate in Maldives. A lot of people will come to run these projects. A lot of these projects are focused in Male’region. So a lot of employment opportunities will be created in this region.”
“Many other investors are also flocking to the Maldives. This is the best time. I believe this will bring a big boom.” - Janah
Many opportunities, need to increase training
The biggest complaint in connection to the tourism industry is that Maldivians do not get enough opportunities. Especially, there are concerns because few Maldivians fill senior posts in resorts. But Janah believes that foreigners should also be employed.
Janah believes a foreign workforce is essential for economic growth. -- Photo: Mohamed Shabin/ Adhadu
“There isn't enough population. There is international demand for the Maldives now. So the maximum benefit from this can be reaped through employing both locals and foreigners. Foreigners should be brought for specific jobs. Foreigners should not be brought to do any job that can be done by locals,” he opined.
Janah said that locals should aim to get training and knowledge that matches foreign workers. Investments see Maldives as an international destination so Maldivian workers must learn to maintain work disciplines, he added.
“Even now, I will prioritize a Maldivian for the Waldorf Astoria GM position. But that person should be fully capable of undertaking the job responsibilities. This is not about locals or foreigners. This Is about capability and educational qualifications.
Translated by Saya Ahmed
