This record is a partial extract of the original cable. The full text of the original cable is not available.
UNCLAS COLOMBO 001304
SIPDIS
E.O. 12958: N/A
TAGS: EINV EFIN ELAB KTDB PGOV MV ECONOMICS
SUBJECT: REPUBLIC OF MALDIVES -- JULY 2004 APPENDIX TO
2003 INVESTMENT CLIMATE STATEMENT
REF: (A) STATE 141379 (B) 03 COLOMBO 001540
This appendix serves as an update to the 2003 Investment
Climate Statement for the Republic of Maldives. It has
been provided to assist investors in the interim period
resulting from the U.S. Government's decision to begin
publishing the Country Commercial Guide (of which the
Investment Climate Statement is a chapter) on a calendar
year basis, in January instead of August.
The United States Government has reviewed the 2003
Investment Climate Statement for the Republic of Maldives,
and has noted the following changes that have occurred
since its publication. In most circumstances, if a
portion of the 2003 Investment Climate Statement has not
been modified in this appendix, it is because the U.S.
Government is satisfied that it continues to accurately
reflect the state of affairs in the Republic of Maldives
as of July 2004.
Openness to Foreign Investment: No significant changes
since 2003.
Conversion and Transfer Policies: No significant changes
since 2003.
Expropriation and Compensation: No significant changes
since 2003.
Dispute Settlement: No significant changes since 2003.
Performance Requirements and Incentives: No significant
changes since 2003.
Right to Private Ownership and Establishment: No
significant changes since 2003.
Protection of Property Rights: No significant changes
since 2003.
Transparency of the Regulatory System: No significant
changes since 2003.
Efficient Capital Markets and Portfolio Investment: No
significant changes since 2003.
Political Violence: The Maldives has a strong record of
political stability resulting from the homogenous nature
of a society of one culture, one religion and one
language. In a rare display of public opposition,
September 2003 rioting elicited a swift response from the
government, which has begun a process of constitution
reforms to address the calls for change. Further violence
seems unlikely. The current President has been in office
since 1979.
Corruption: No significant changes since 2003.
Bilateral Investment Agreements: No significant changes
since 2003.
OPIC And Other Investment Insurance Programs: No
significant changes since 2003.
Labor: No significant changes since 2003.
Foreign Trade Zones/Free Ports: No significant changes
since 2003.
Foreign Direct Investment Statistics: Statistics will be
updated in the next full revision of the Investment
Climate Statement, which will be published in January
2005.
LUNSTEAD