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  • Writer's pictureAvaitors Maldives

Amendment to the FDI will not Allow Privatization of ATC to a Private or Foreign Investor: Fayyaz

Minister of Economic Development Mr. Fayyaz Ismail tweeted stating amendment to the Foreign Direct Investment (FDI) will not allow operation of air traffic services to a private or a foreign investor.

The tweets came after numerous calls against the amendments brought forward which contrary to the tweet, allows foreigners to own 100% of air traffic services.

The amendments allow foreign nationals or foreign companies owned 100% by foreigners to:

  • Operate and manage airports (including terminal facilities such as airway terminal)

  • Airport and air-traffic control activities

  • Ground service activities and airfields etc

Minister Fayyaz stated that the wording on the amendment will be changed in order to avoid any further misunderstanding.

Additionally, Fayyaz clarified that Hanimaadhoo International Airport will be developed by a loan facility through Indian Exim bank and the ownership operation and management of the airport will be carried out by the government or an assigned SOE.



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