Singapore's links with Maldives growing
Tue, Jun 29, 2010
my paper

SINGAPORE'S investment in the Maldives has almost tripled in the last decade.

Prime Minister Lee Hsien Loong said yesterday that Singapore's direct investment in the Maldives has grown from about $50 million in 2000 to almost $140 million in 2008.

Singapore companies like Banyan Tree and Hotel Properties Limited have invested in the tourism sector there, while others have invested in water infrastructural projects.

PM Lee said: "There is scope for further cooperation, in tourism, air services, urban development and trade, which will further strengthen the economic links between our countries."

He was speaking at an official lunch that he hosted for the President of the Maldives, Mr Mohamed Nasheed, whose two-day visit ended yesterday.

Singapore took part in relief and reconstruction efforts in the Maldives after the 2004 tsunami, building the Ghazee School in Hulhumale, among other things.

It has also helped train more than 900 Maldivian officials.

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