The Foreign Direct Investment policy (FDI) has been amended to allow 100 foreign companies to operate airports in the Maldives.

The FDI policy published by the Ministry of Economic Development in February 2020 stated that a foreign company looking to operate an airport in the Maldives requires at least 25 percent local ownership. And such a company is required it invest a minimum of USD five million in five years and the max term for such a permit is 50 years.

However, the FDI amendment published on the state gazette yesterday states that a 100 percent foreign company can operate airports in the country.

The new amendment said that such companies taking up airport management can take on Air Traffic Control and Ground Operations as well.