Azima Shakoor, the National Territory Secretary at the President's Office, has said that obstructing investments such as those the current administration is seeking for Rasmalé would be a big loss for the Maldivian people.
In a social media post, Azima emphasised the need to maintain a positive outlook when foreign entities show interest in investing in the Maldives.
"When investments are driven away for political reasons to defeat a government, the loss is not felt by the leader, but by all Maldivians. The consequences of major investments being chased out of the Maldives due to political motives are evident in how that capital was invested elsewhere in the world," Azima said.
Azima further noted that attracting substantial investment requires granting investors a reasonable timeframe. She argued that leasing land to foreign parties for 99 years should not be a cause for concern.
"The real concern should be if investments do not operate within the constitutional and legal framework of the Maldivian state, regardless of how short the lease period might be," she wrote.
Acknowledging that her comments might draw comparisons to the GMR case, Azima clarified that the GMR agreement was terminated because it posed direct challenges to the Maldives' finances, national security, and the tourism industry.
The government signed a confidential agreement to hand over Rasmalé to Eagle Hills last Monday. While the full details of the agreement remain undisclosed, the government has stated that the land was leased for 99 years. The deal was made without any lease acquisition costs or rent.
Despite facing public and political criticism over the deal, the administration continues to defend the transaction as a beneficial move. Officials maintain that the land was allocated under the same general principles used for resort leases and claim the investment will generate unprecedented revenue for the Maldives.
