Former President and MDP Chairperson Mohamed Nasheed stated today that foreign direct investments will not have any negative impact on a country's independence and sovereignty, and instead, the country's economy becomes stronger and its capacity to maintain independence increases.

Indirectly referring to the mega waterfront and marina project planned for development in Rasmalé, Nasheed stated in a post on 'X' that among the nations freed from colonial subjugation, the countries that have achieved progress on the path of development are those that welcomed foreign investments and utilized those opportunities.

However, he stated that such investments must not be aimed solely at extracting natural resources. Instead, Nasheed noted that they must pave the way for creating new products using those resources and increasing productivity.

Citing the examples of Singapore and South Korea, Nasheed stated that foreign investments have not caused any negative impact on the independence and sovereignty of those countries. Instead, Nasheed stated that due to those investments, the economies of those countries grew stronger, their capacity to maintain independence increased, and a notable position in the international arena was secured.

At a time when criticisms are being directed from within the opposition MDP against the USD 12 billion 'Maldives Waterfront and Marina' project scheduled to be carried out in Rasmalé in partnership with the UAE's Eagle Hills company, Nasheed has been openly supporting this project.

In this regard, welcoming the project as soon as it was announced, Nasheed has previously stated that developing a waterfront is a good idea.

Furthermore, he has also urged members of the MDP National Council that opposing foreign investments would be politically damaging to the MDP, and not to speak out against major investors like Eagle Hills and countries like the UAE.