MP Claims Economic Minister Saeed’s Multi-Billion Dollar Projects Yield No Results

Hulhumale South constituency member Ahmed Shamseed stated in the People's Majlis that despite Economic Minister Mohamed Saeed announcing projects worth over one billion dollars and creating numerous companies during his tenure, nothing has been achieved. Shamseed said that President Mohamed Muizzu also lacks confidence in Saeed today, and therefore Saeed has no role in the Rasmalé project that the government is currently trying to move forward. Shamseed listed several announced projects, including the Maldives International Financial Centre (8.8 billion dollars), Fonadhoo International Financial Hub, Fonadhoo-Male-Hulhumale Monorail System, Fonadhoo-Male-Hulhumale Bridge Connection, Seaplane Terminal Relocation, Fonadhoo STC Fuel Farm, Development Bank of Maldives, Ihavandhoo Economic Gateway, and Ihavandhoo International Banking Project. He stated that while many companies have been created under Saeed’s ministry, none of them have produced any results. Shamseed further claimed that since Saeed took charge as Economic Minister, the country’s economy has suffered greatly, noting the government estimates the country’s production growth rate will rise by only 0.6 percent this year. He also expressed concerns about rising dollar and commodity prices, stating that everyone in the country can testify that the national economy is weak and all businesses are stalled.