DTIS, Volume I - Enhanced Integrated Framework (EIF)

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• Coordinate work of the national SAFTA Committee and represent the Maldives on the Committee on Economic Cooperation (CEC) and Committee of Experts (COE) on SAFTA of SAARC. • Support negotiations on graduation and monitor the trade impact of LDC graduation • Conduct international trade negotiations (multilateral, regional and bilateral) • Manage the <strong>Integrated</strong> <strong>Framework</strong> (IF) through the National Steering Committee • Support capacity building in government and private sector on international trade matters including coordination of trade related technical assistance with international organizations • Serve as national focal point for WTO, UNCTAD, WIPO, ITC, and UNIDO, and on trade related issues with other international organizations such as World Bank, UNDP, IMF etc. • Serve as national contact point on standards, metrology, testing, quality and intellectual property systems • Support the implementation of the EU National indicative programme • Monitor the industrial master plan and provide support services for the business Park in Hulhumale • Provide guidance on e-commerce The ITPD is understaffed in relation to its enormous policy responsibilities. It has no research facility and very little scope for any in-depth policy analysis. Furthermore, the training and experience, including on trade negotiations of its professional staff is limited. Though officials and staff are motivated, the complexity of the roles that they must fill and the limited resources that can be drawn upon means that most are generalists rather than specialists. This often leads to delay before advice and action can be forthcoming. C. FOREIGN INVESTMENT SERVICES BUREAU (FISB) There are two main investment categories in the Maldives: tourism and general investments. The Ministry of Tourism and Civil Aviation (MTCA) services tourism investments (foreign and local) while all other investments (also foreign and local) are serviced by the FISB. The FISB is an autonomous unit of MEDT with its own supervisory board (the Foreign Investment Board, FIB). The bureau is the first stop for investors and has two main responsibilities. It is both the government’s service facility for investors and regulatory body for foreign investment. As a service facility, the main functions and services that are provided by FISB include: • Marketing and promotion of the Maldives as an investment destination. • Providing information and guidance on the application process for investors. • Issuing licenses for investors to conduct business operations in the Maldives. • Reviewing and approving applications for import duty exemptions by investors • Ensuring compliance with various regulations, e.g., labour. 53
Applying for a license to invest in the Maldives is a procedure, which involves several steps (see Box 2). The main benchmarks are the review of the investment application or proposal by FISB and the evaluation of the proposal leading to a decision by FIB. The bureau charges a fee for its services to investors. Investors have to comply with the regulations and complete a techno-economic feasibility report. The report is actually more of a business plan and includes a financial plan and forecast and labour requirements. In addition to the FISB process, an investor may also require clearance from other relevant ministries. The FIB consists of the minister responsible for MEDT, a professional staff of FISB and representatives from the following government entities: 1. Ministry of Planning and National Development 2. Minister of Tourism 3. Ministry of Defense and National Security 4. Ministry of Finance & Treasury 5. Ministry of Higher Education, Employment and Social Security 6. Ministry of Foreign Affairs 7. Ministry of Atolls Development 8. Ministry of Fisheries, Agriculture and Marine Resources 9. Ministry of Environment, Energy and Water 10. Audit Office 11. A member of Parliament Foreign Investment Application Process Box 2 1. Submission of Foreign Investment application 2. Review of the application by the FISB 3. Evaluation of the application by the FIB (If application is declined, the process ends at this point) 4. If accepted by the FIB, approval of the Office of the President is sought 5. Issue of Letter of Acceptance to the investor 6. Registration of the company 7. Signing of the foreign investment agreement 8. Commencement of operation Other ministries or stakeholders with interest in the investment area may be invited to FIB deliberations on the investment proposal under consideration. 54
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FINAL R E P O R T Volume 1 MALDIVES
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GSP HACCP HDFC HDI HIES HH HRD HS I
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TRIPS TRTA TSA TTMP UAE UK UNCTAD U
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CHAPTER 6: CUSTOMS SERVICES AND TRA
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major stakeholders as the basis of
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C. ECONOMIC TRENDS Buoyant GDP grow
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WTO members (through the Committee
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The recommendations cover these iss
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Requirements Action no. Action reco
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Page 21 and 22:
Page 23 and 24:
Page 25 and 26: government, and lawmakers are elect
Page 27 and 28: . 4
Page 29 and 30: to Sri Lanka. However, by 2004 the
Page 31 and 32: This relatively high proportion of
Page 33 and 34: On an annual basis, total NFA of th
Page 35 and 36: elow provides data on the public in
Page 37 and 38: According to the estimates prepared
Page 39 and 40: Table 2.8: Damage to agricultural f
Page 41 and 42: II. Imports - Merchandise There has
Page 43 and 44: the relatively high rate of unemplo
Page 45 and 46: A. DESTINATION OF MERCHANDISE EXPOR
Page 47 and 48: Penetration of international market
Page 49 and 50: Overall, the importance of foreign
Page 51 and 52: on goods deemed luxury goods (e.g.
Page 53 and 54: the Japan and USA markets. 11 Fish
Page 55 and 56: The Modalities provide that the res
Page 57 and 58: emoved. However, in order to provid
Page 59 and 60: EBA. Appropriate transition arrange
Page 61 and 62: Several provisions such as Article
Page 63 and 64: CHAPTER 4 POVERTY REDUCTION AND HUM
Page 65 and 66: Table 4.2: Poverty Gap Ratios per R
Page 67 and 68: produced locally and are readily av
Page 69 and 70: commerce, information and communica
Page 71 and 72: Table 4.3: Fishery Sector employmen
Page 73 and 74: This also requires policies that ta
Page 75: with routine functions of administe
Page 79 and 80: E. MINISTRY OF FISHERIES, AGRICULTU
Page 81 and 82: K. PRIVATE SECTOR STAKEHOLDERS Priv
Page 83 and 84: Overall, it is estimated that the c
Page 85 and 86: The cash is held and disbursed by t
Page 87 and 88: difficult to reach given the except
Page 89 and 90: system of micro-credit intermediari
Page 91 and 92: F. LAND, RAW MATERIALS AND SUPPLIES
Page 93 and 94: B. LABOUR MARKET REFORM About 44 pe
Page 95 and 96: Appendix The mixed record of the Ma
Page 97 and 98: legislation incorporates the initia
Page 99 and 100: CHAPTER 6 CUSTOMS SERVICES AND TRAN
Page 101 and 102: Maldives Port Authority • Respons
Page 103 and 104: the correct amount of customs duty
Page 105 and 106: suspense procedures, thus eliminati
Page 107 and 108: A new domestic terminal at MIA will
Page 109 and 110: There is need to clarify MAC’s na
Page 111 and 112: Changes in the role and structure o
Page 113 and 114: Significant improvements have been
Page 115 and 116: CHAPTER 7 THE TOURISM SECTOR Chapte
Page 117 and 118: British market in 2001. In 2004, be
Page 119 and 120: Similarly, considerable demand was
Page 121 and 122: for imports of support infrastructu
Page 123 and 124: government revenues from the supply
Page 125 and 126: number of trainees that have been t
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established as a quality tourism de
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Maldives' unspoiled marine environm
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The Faculty works very closely with
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TOURISM ACT A key objective of the
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HRD studies and conduct of necessar
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D. ESTABLISH AN ENABLING BUSINESS E
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Main Recommendation No. 5: review a
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Main Recommendation No. 6: Scale-up
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CHAPTER 8 FISHERY SECTOR Chapter Pl
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processing under-performing more th
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per cent - see Table 8.4. The secto
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In the light of these market trends
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documentation, and administration.
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monitoring and evaluation dates fro
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and catering industry chefs demand
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It is expected that the trial fishe
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• Can seaming and retorting; •
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DTIS, Volume I - Enhanced Integrated Framework (EIF)

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