The Maldives Burhan is fraught with the risks of the city of Chefir worth 9 billion dollars to diversify its economy and challenge Asia’s mighty men

Main meals:

• The Maldives is developing a 9 billion dollar financing center to reduce its dependence on tourism.
• The project will three times the gross domestic product and generate 16,000 jobs in five years.
• It aims to compete with Dubai, Singapore and Hong Kong.

The Maldives government is developing a $ 9 billion in financial encryption center in cooperation with MBS Global Investments, a company based in Dubai. The initiative, officially known as the Maldives International Financial Islands Center (MIFC), will be developed over five years in the capital of Mali. At 830,000 square meters, it is expected to create 16,000 jobs, attract foreign foreign investment (FDI), and maybe three times the gross domestic product of a country estimated at $ 7 billion.

Blockchain Center Development details 9 billion dollars

MIFC will be more than just a financial center, it is a multi -purpose digital economy area. The center will have many important elements, according to the project documents:

• Digital financing area and a banking area that will include encryption exchanges, investment funds and high -tech companies.
• Blockchain Data Data Center with decentralized storage and international standards for computing infrastructure.
• University campus to start operating Web3, joint work space, and speeds to encourage Blockchain entrepreneurs.

High -end homes and commercial places such as apartments, hotels, conference facilities and shopping centers will be developed to attract talents from all over the world.

A group of a group such as those in Dubai, with 100 % foreign ownership, 20 -year tax holidays, and residence visas that extend over decades of foreign professionals. These sweeteners are designed to attract funds from Asia, the Middle East and other places.

The reasons behind the Maldives axis towards Blockchain

The Maldives economy depends greatly on tourism (30 % of GDP) and fisheries (10 %), with yellow tuna exports and scapengs to the European Union, Japan and Thailand being the main export to the European Union. But recent years revealed our weaknesses.

The public debt has crossed 100 % of the GDP sign, government spending has expanded from the financial deficit, and the tourism industry has been exposed to long -term threats to travel and climate change. Blockchain and digital financing reduce dependence on tourism and fishing.

The Ministry of Finance estimates that MIFC can achieve a billion dollar revenues annually by the end of its fifth year. The government is also speeding up the formation of a regulatory sand fund where companies can experience Blockchain services under relatively comfortable legal supervision.

There was a strong focus on the need to ensure very clear legal protection for foreign investors – a type of foreign investment guarantee similar to Dubai courts in Dubai – as part of the approach to building international confidence.

The Maldives is competing with other hot scores for encryption – Dubai, Singapore and Hong Kong

The ambition of the Maldives is placed against encryption centers in Asia. Evolution of encryption in Dubai, in particular, was fast -paced. Dubai, in Blockchain real estate transactions in 2024, bought bitcoin for immediate cross -border transactions. The city is currently holding tokeen2049, where more than 30,000 people are attended.

Hong Kong is a bridge between Western and Chinese investors with more than 100 Web3 companies and Fintech benefits from its loose lists. Singapore provides a good infrastructure and a clear legal environment, and has attracted many Blockchain companies through the sand fund policy.

More news: Hong Kong to present the new virtual asset policy framework by the end of 2015

Although these cities are one or more step, the Maldives hopes that it mates the new incentives of the investor, tax exemptions, and the strategic geographical position, an angle of the Indian Ocean market.

Create talents and infrastructure for the Maldives Checks Center

Local experience in Blockchain is one of the largest obstacles. Maldives Blockchain Talent Outreach (MBTI) will work with Maldives National University, Binance Academy and Consensys to train 5,000 specialists over five years. The government will also provide long -term visas for foreign experts in Blockchain to work in the country. To make encrypted currency transactions safe in the country, Regtech products and Blockchain analyzes will be used to counter financial crimes.

Binance Research is one of the best Blockchain projects in Asia Pacific by 2025.