Unsolicited Proposals Policy
Introduction
The Special Economic Zones Law of the Maldives offers a conducive framework to solicit private capital for development of strategic projects of the Government. Investments allowed under the SEZ umbrella are relatively large-scale investments with a minimum capital outlay of USD 150 million.
Projects that fall within the following areas can be considered for incentives and benefits under the SEZ framework.
- Export focused manufacturing activities
- Transshipment ports, international logistics services, ports, airports, bulk breaking, bunkering and docking devices.
- Transshipment ports, international logistics services, ports, airports, bulk breaking, bunkering and docking devices.
- Universities, tertiary hospitals, super specialist hospitals, and establishment of world-class research facilities.
- Information Communications Technology (ICT) parks and ancillary facilities related to ICT.
- International financial services and international trade hubs.
- Renewable energy and related services, and oil and gas exploration.
- Projects targeting introducing new technologies to the Maldives.
Procedure
Developer submits proposal to Board
Board grants interim permit
(Within 28 days)
Developer submits detailed proposal
(Within 180 days)
Board grants Developer permit
(Within 90 days)
Signs concession agreement between Developer and Government
(Within 30 days)
Developer develops Zone, finds investors