News Desk
In a detailed social media statement, Principal Secretary to the President Aishath Azima Shakoor outlined key arguments on foreign investment and national development, warning that deterring investors for short-term political gain ultimately harms the Maldivian public rather than political leaders.
Highlighting the nation’s goal to become a developed country by 2040, Ms Azima stressed that all national policies and mindsets must align towards this target. Drawing a comparison with Singapore, she noted that Singapore’s success stemmed from social discipline, a shared national vision, and a commitment among citizens not to undermine their own country’s progress.
She identified several major challenges facing the Maldives, including an ageing population and the urgent need for skilled human resources, alongside creating the necessary conditions to attract sufficient capital.
Addresssing the legal framework surrounding long-term land leases, Azima argued that lease durations—including 99-year terms—should not be the primary source of concern. Instead, the focus must remain on ensuring that all investments operate strictly under the constitutional and legal jurisdiction of the Maldivian state. Leasehold rights, she emphasised, are legally distinct from outright land ownership and do not compromise state sovereignty as long as regulatory authority is maintained.
She further cautioned that in a competitive global market with limited capital, the Maldives must view foreign investment opportunities positively. Driving away investors to defeat a government political opponent damages the entire nation, a consequence she noted is evident in past instances where major capital fled to other markets.
Pre-empting comparisons to the cancellation of the GMR airport deal, Azima clarified that the agreement with the Indian conglomerate had posed direct risks to national security, state finances, and the tourism industry, and was annulled only after attempts to rectify those issues failed. By contrast, she drew a clear distinction between selling shares in established state enterprises—which cedes control over critical infrastructure—and leasing newly reclaimed land to private developers to build infrastructure from scratch.
The debate over foreign investment, land leases, and national sovereignty in the Maldives has taken another turn.
Attorney General Ahmed Usham has responded to criticism from former President Abdulla Yameen regarding plans to lease land in the massive Ras Malé reclamation project for 99 years.
Opponents have argued that granting a 99-year lease on 500 hectares of land to UAE-based developer Eagle Hills for a $20 billion waterfront marina project amounts to selling off national land.
Who is Aishath Azima Shakoor?
Aishath Azima Shakoor is a prominent legal figurs in the Maldives. She served as the Attorney General of the Maldives across multiple administrations, notably under President Maumoon Abdul Gayoom and President Mohamed Waheed Hassan Manik. She also served as Minister of Legal Affairs at the President’s Office under President Abdulla Yameen—an administration heavily criticized internationally for systemic human rights abuses and high-level financial corruption, most notably the state-owned Maldives Marketing and Public Relations Corporation (MMPRC) embezzlement scandal.
Following her departure from government service, Azima worked in private legal practice and acted as the personal family lawyer for President Dr Mohamed Muizzu. During her time outside official office, she became an outspoken advocate on the Maldives’ territorial claim over the Chagos Archipelago.
President Muizzu brought her back into government rank as Principal Secretary to the President on National Territory and Sovereignty.
Throughout her career, Azima has held several high-level cabinet portfolios, including Minister of Gender, Family and Human Rights. A key legal practitioner involved in constitutional governance, state policy, and landmark regulatory debates, she was also the ruling party’s candidate in the 2024 Malé Mayoral election.
