EXIM Thailand and Bank of Maldives Join Hands to Boost Thai Investments in Maldives

Announcement date 16 July 2007
EXIM Thailand and Bank of Maldives Join Hands to Boost Thai Investments in Maldives
EXIM Thailand and Bank of Maldives Plc. are studying the feasibility of jointly promoting Thai export and overseas investment in Maldives, particularly in the highpotential industries such as resort, fisheries and processed seafood. Dr. Apichai Boontherawara (second left), President of Export-Import Bank of Thailand (EXIM Thailand), revealed after meeting with Ms. Serene Ho Oi Khuen (second right), General Manager and Chief Executive Officer, Bank of Maldives Plc. (BML), on her visit to EXIM Thailand recently that both parties plan to deepen Thai-Maldivian trade and investment cooperation by co-financing or rendering other financial support packages to Thai entrepreneurs with capabilities to start up or expand investment in Maldives. Priorities are given to resort, fisheries and processed seafood industries which have high growth potential. The collaboration also aims at promoting the export of Thai products and services to Maldives and other nearby markets.EXIM Thailand President added that BML, which has the Maldivian government as its majority stakeholder, is ready to provide both information and financial support to promising Thai entrepreneurs to expand their businesses into Maldives. The Maldivian government has been active in promoting foreign direct investment in housing and resort projects which offer investors relatively high returns. Currently, resort and housing units are in high demand in response to the rising number of tourists annually. Last year, about 600,000 tourists visited Maldives. In addition, Maldives is endowed with abundant marine resources. The Maldivian government, therefore, aims to promote the standardization of fishing and seafood processing industries. Hence, there are plenty of investment or joint venture opportunities for Thai entrepreneurs with potential to be part of these export-oriented industries. With environmentally sound fishing method causing no harm to dolphins and other marine resources, Maldivian fish, the most common of which are skipjack and yellowfin tuna, command better prices in the international market.
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