President-Elect Dr. Mohamed Muizzu has revealed his intention to establish a dedicated ministry to foster the growth of the construction industry. This announcement came during a gathering organized by the Maldives National Association of Construction Industry (MNACI).
Highlighting the construction sector’s substantial importance as the second-largest industry in the Maldives, President-Elect Muizzu noted that its progress had been hindered by past government policies that managed the industry alongside other sectors. To address these challenges, he emphasized his commitment to developing the construction sector through the creation of a distinct ministry.
The establishment of this specialized ministry, as explained by President-Elect Muizzu, will facilitate a focused and prioritized approach to the construction industry, enabling the government to seek foreign assistance and partnerships.
During the event, industry stakeholders engaged in a dialogue about the various challenges they encounter. These challenges encompass the dwindling circulation of foreign exchange in the country, issues related to pending payments from state agencies resulting in financial setbacks, eroding trust among suppliers, concerns about potential bankruptcy, and a perceived lack of support from the Ministry of Finance.