As a nation of islands, efficient marine and air transport is essential for the country’s internal and international connectivity in order to facilitate labour mobility, equitable access to services and to achieve the government’s objectives of regional development, decentralization and economic diversification.
The government plans to connect the islands with a comprehensive sea and air transport network for both passenger and cargo transport, create regional hubs for trade through the development of international and regional ports and achieve the objective of economic diversification through the expansion of industries such as boat building, drydocking and other maritime services.
Opportunities for investment
Major prospects for investment within the transportation sector include advancing transport and communications infrastructure, improvements in logistics chains, investments in other maritime assets.
Sustainable low-emission transport systems
While pursuing the strategic priorities of connectivity, the government is committed to seeking sustainable and low-emission transportation systems. With the country’s focus on reducing the carbon footprint in the transport sector, there is potential to introduce an integrated, sustainable and low emissions transport system and reduce fossil fuel consumption.
As one of the most established tourist destinations in the region, the Maldives has huge potential to establish itself as a port of call for cruise liners traversing the Indian Ocean. Opportunities for the development of cruise terminals are open for foreign investors.
International and regional boat building facilities and dry docking facilities
Opportunities are open for international boat builders to invest in regional and sub-regional boat building facilities to cater to the growing domestic and international markets. Dry-docking is another area of great promise open to foreign investors. Being strategically located in the Indian Ocean dry-docking facilities will be able to serve regional fleets in addition to domestic vessels.
Air transportation facilities
Development of a comprehensive transport network is one of the top priorities of the government. Opportunities are open for local and foreign investors to invest in the development of domestic air transport facilities.
At present there are 17 airports, in the country. The government is open to engage with investors to develop the air transport infrastructure of the country with the development of new domestic airports and upgrading selected domestic airports to establish new international airports.
Development of seaplane hubs
While more and more investments are being made in the development of upmarket resorts, investment opportunities are open for the establishment of seaplane hubs to cater to resorts in various regions of the country.