An Inspiration to Others
After reading the article ‘Economic Dreams’, I can safely say that the Maldives is proving itself to be an example for other countries and societies. A country that depends on its tourism industry as its main source of revenue, the latest Maldives economic policy, ‘The Special Economic Zone Act 2014’ is probably one of the best economic decisions undertaken by the government to help diversify the nation’s economic portfolio. As it is outlined in the article, the act aims to encourage Foreign Direct Investment (FDI) by offering attractive benefits in the form of tax incentives and relaxed regulations. Though faced with criticism by opposing parties, in my view, the act will help attract more revenue and help enhance the country’s foreign reserves, ultimately paving the way for increased growth.
This particular event poses as a lesson for countries such as Pakistan which are caught in the throes of economic disparity, poverty, corruption and the like. With foreign investment being pulled out of Pakistan as a result of the deteriorating law and order situation, a policy such as this would help bring the turnaround this country needs to move towards prosperity and economic growth. Jeev Lalit Phuket, Thailand