AI-assisted research summary: The amendment updates the foreign direct investment policy for air transport-related activities, allowing 100% foreign shareholding for the listed classes subject to the stated investment and approval conditions.
` ަރާގްނައ 2021 ްނޖޫ 15 – 1442 ާދިޢަޤްލުޛ 5 :ުޚީރާތ 197 :ުދަދައ 50 :މް ުއިލޮވ Second Amendment to Foreign Direct Investment Policy ްސ ީފޮއ ެގާޔްއިރޫހްމުޖްލުސީއަރ • ިދެއ ްށަމުނިދްށޮކުޢިއާޝ ިއަގުޓެޒެގ ްއަތުލޫސުއ ިއާކަތުދިއާވަގ ުގ ަމުނާފުރުކަތުޑޮބ . ެވެށައ legalaffairs@po.gov.mv ީނާވްއުނޮފ ެޖްއާރިހެވިދ ،ެލާމ 3336211 :ުނޯފ 7242885 :ްލިއަބޯމ www.gazette.gov.mv :ްޓިއަސްބެވ ްޓ ެޒެގ ެގުރާކުރަސ ިހ ެވިދ 197 :ުދަދއަ 50 :ްމއު ިލޮވ ` Ministry of Economic Development Male’, Republic of Maldives Second Amendment to Foreign Direct Investment Policy 1. The Foreign Direct Investment Policy, Annex I, Class Code H3 is hereby amended by repealing the bullet point 2: “airport and air-traffic control activities” of Class Code H3(1), and is hereby restated as follows: Class Class Details Maximum Minimum Maximum Entry Code percentage initial duration of Route of Foreign investment Foreign Shareholding requirement Investment for 5 years Agreement in US$ H3 Air transport services 100% 5,000,000 Up to 50 Government (excluding freight years Approval services) H3 (1) Services incidental to air 100% 5,000,000 Up to 50 Government transportation (excluding years Approval services and facilities mandated to the Government of Maldives including Air Traffic Control Services, Customs, Immigration, Aviation Security, etc.) - operation and management of airports (including terminal facilities such as airway terminals) - ground service activities on airfields 2. This amendment shall become effective on the date of publication in the Government Gazette. _____________________ 1