Foreign Minister Says Negative Investment Rhetoric Could Strain Diplomatic Ties

Foreign Minister Iruthisham Adam has said that negative rhetoric surrounding foreign investment in the Maldives could damage bilateral relations amid political debate over the proposed Eagle Hills development in Ras Malé.

In an exclusive interview with Mihaaru News, the minister said political interests should not obstruct investments intended to benefit Maldivians. She argued that foreign investment and external assistance were essential to advancing the government’s development programme while meeting substantial debt obligations.

Her remarks came in response to criticism of the Maldives Waterfront and Marina project proposed by Abu Dhabi-based developer Eagle Hills. The company signed a commercial terms agreement with the government on 21 September 2026, setting out the project’s broad commercial framework. According to Eagle Hills, detailed terms will be developed through further negotiations.

The proposed development would bring together hotels, residential properties, a marina, retail outlets and community facilities in the Ras Malé area. Eagle Hills has outlined a long-term leasehold framework under Maldivian law, with property transfers subject to government approval and registration.

Drawing on her experience in former President Abdulla Yameen’s cabinet, Iruthisham cited a proposed Saudi-backed project in Faafu Atoll as an example of how domestic political disputes could affect diplomatic relations.

She alleged that rumours circulated by the then-opposition Maldivian Democratic Party (MDP) contributed to the project being halted and strained relations with Saudi Arabia. Restoring those ties subsequently required considerable effort, she said.

The minister argued that undermining relations with major Islamic and Arab countries would damage important partnerships for the Maldives. Political rhetoric driven by personal interests, she said, should not prevent Maldivians from receiving potential economic benefits.

Turning to public finances, Iruthisham said the administration had inherited substantial debt and focused early in its term on meeting repayment obligations. She said servicing debt and avoiding default remained priorities in maintaining international confidence in the Maldives.

Meeting those obligations while delivering President Dr Mohamed Muizzu’s development agenda would require foreign investment alongside external assistance, she added.

Iruthisham expressed confidence that the president would pursue major investment agreements through dialogue and negotiation without compromising Maldivians’ rights, violating the Constitution or undermining the public interest.

She said investments should be assessed on their benefits to the country rather than become a source of political resentment over which administration secured them.