Former President and opposition MDP Chairperson Mohamed Nasheed has said that foreign direct investment (FDI) does not undermine a country’s independence, but instead provides a pathway to development.

Nasheed expressed support for the UAE-based Eagle Hills project in Rasmalé, despite opposition from some political groups.

In a post on X today, Nasheed said countries that had experienced colonial rule and subsequently achieved economic success were those that embraced foreign direct investment. He stressed, however, that investment should focus on processing and value addition rather than simply extracting natural resources.

Citing Singapore and South Korea as examples, Nasheed said foreign investment had not compromised their sovereignty or independence. Instead, it had strengthened their economies, enhanced their ability to safeguard their independence and secured their positions in the international arena.

Nasheed's remarks come as the MDP National Council has passed a resolution calling for a public referendum on the Rasmalé project. Nasheed, who chaired the council meeting held on 1 November, had openly expressed his support for the project.

During the meeting, he stated that he fully supported the Eagle Hills development in Rasmalé without reservations and urged political figures to refrain from making unsubstantiated claims linking the project to Zionism.