An In­spi­ra­tion to Oth­ers

Southasia - - EDITOR'S MAIL -

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

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