Protection of national interests should be assured in foreign investments- President

President Dr Mohamed Waheed Hassan has underscored the importance of assuring the protection of national interests when inviting multinational corporation investments.

The President said this speaking at the ceremony held yesterday on the occasion of the Forty Seventh Anniversary of establishment of Diplomatic Relations between Maldives and India.

President Dr. Waheed said that small countries like Maldives are like small businesses, vulnerable to external shocks, always self-conscious about security and easily manipulated by bigger partners. He added that as a nation state small countries are very conscious of their national pride and sovereignty.

“It is important that, we small countries invite large Multi-national Corporation’s we need to assure that our national interests are fully protected. Similarly the MNC’s must understand as small countries we are vulnerable, we have little bargaining power and especially as a country in transition, we are on a steep learning curve, it is when we become sensitive to each other’s concerns that we build a trusting and lasting friendship,” he said.

The President said that it is not a secret that Maldives is currently facing some difficulty with some Indian companies, these difficulties should be overcome and should adamantly resist such difficulties from effecting the very close and brotherly relationship between the two countries.

He said that Maldives will always welcome Indian investments, we need to benefit from the vast reservoir of ideals and capital Indian businesses have to offer.

“In Maldives we should never question the relationship with India, we have and we must always appreciate and remain grateful to India, on numerous occasions we have benefited and continue to benefit from the wisdom and the generosity of the people and the leadership of India. The corporation we have in the field of security and defence and international relations are exemplary it remains solid and unshakable,” he said.

The President noted with special gratitude India’s enduring and generous contribution to the development of Maldives and unwavering support in the pursuance of Maldives’ international initiatives and interests.

He thanked the Government of India for it’s continued support and collaboration, and reaffirmed his commitment to work together in pursuance of common interests bilaterally and at the regional and global levels.