Maldives Approves $20 Billion Investment Zone for Tourism Development

The government of the Maldives approved a $20 billion investment from an Abu Dhabi-based company to develop a major tourism zone near the capital city of Malé. The project involves building a marina, homes, and hotels on 500 hectares of reclaimed land in Ras Malé. The government stated that the development could create over 54,000 direct and indirect employment opportunities.

This ambitious development is intended to diversify the tourism sector of the Maldives. The project is significant as it is taking place in a nation highly vulnerable to rising sea levels, which poses an existential threat to its low-lying islands.