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The Maldives has tightened foreign investment rules in several sectors, requiring at least 25 percent Maldivian ownership for certain construction, real estate, auditing and information technology investments, while reserving some activities entirely for Maldivians, state media PSM News reported on Wednesday, quoting a minister.
   
    Minister of Economic Development, Transport and Trade Mohamed Saeed said that, under the revised framework, foreign investors may participate in construction projects valued below 15 million U.S. dollars and real estate projects valued below 100 million dollars only if Maldivians hold at least a 25 percent stake.
   
    The same local ownership requirement applies to auditing and information technology services, he said. Residential real estate projects valued below 100 million dollars and general sea transport services have been reserved for Maldivians.
   
    Saeed said 150 foreign investments are required to comply with the new conditions introduced under a policy developed in line with the Foreign Investment Act, which came into effect in 2024.
   
    Saeed said 29 foreign investments operating in sectors now reserved for Maldivians had already been discontinued, while 17 foreign investors had submitted applications to comply with the revised requirements.
   
    The policy also covers wholesale and retail trade, logistics, general sales, and passenger and cargo sales agencies representing airlines operating in the Maldives.
   
    Saeed said 17 businesses previously operating in wholesale and retail trade had expressed interest in bringing Maldivian shareholders into their operations.
   
    Existing foreign investors operating in newly reserved sectors will be given time to restructure their businesses or withdraw from those activities, while joint ventures and partnerships with Maldivian shareholders will remain possible in certain sectors.
   
    The Economic Ministry said the revised framework is intended to expand opportunities for Maldivian businesses while retaining foreign investment in areas where international expertise can contribute to economic development.