The government, on Friday, announced to seek USD 15 million from investors for national security projects who will in return get lagoons and islands under the cross-subsidy principle.
The government has not yet released any details of the projects. It was announced in the presidential decree issued on Friday to raise funds for projects.
The section 15 of the decree says projects will be focused on the entire country. It adds that the projects are planned to protect the country's independence and sovereignty and promote peace and security.
Although no details of these projects were disclosed, the government's policy is to strengthen the army and coast guard.
The announcement of a planned investment in national security projects comes amid rumours that the government wants to buy missiles for the Maldivian army.
According to posts on social media, the government plans to buy surface-to-air missiles and a military ship through a Turkish company.
Last year, the government bought military drones, also from a Turkish company. The government declined to disclose its cost, but multiple sources confirmed the cost as USD 37 million.
The cross-subsidy rule does not require direct investment. Lagoons and islands can be given to investors under this rule for carrying out the project.
