Maldives urges for Indian investment in trade and industry

CHENNAI - Maldives President Mohammed Nasheed has urged the Indian trade and industry to invest in the island nation.

On the sidelines of the Partnership Summit 2010, orgainised by the Confederation of Indian Industry (CII) here on Saturday, Nasheed said, ” I believe that we can build upon a very good relationship especially in trade, as we keep saying more deals is open for business and Indian enterprises already looked into the motives.”

“We want to see more of it and we think through the partnership forum we able to network and Indian industries can establish and set up in Maldives,” he added.

Pointing out that Maldives would need an investment of 200 billion dollars in 2010, Nasheed said, “We are expecting investment in energy, transport, infrastructure, housing, education and in health.”

Nasheed also mentioned that his government would provide tax concessions to companies that would invest in the above-mentioned areas.

Union Commerce and Industry Minister Anand Sharma and Deputy Chief Minister MK Stalin also addressed the conference at the summit.

Around 1,000 delegates from India and abroad attended the conference, whose main aim was to provide a platform for governments, business and allied services to discuss and address key global issues. (ANI)