Envoy: Saudi Arabia has invested USD 488mn in Maldives’ development, committed to expanding cooperation

Saudi Arabia is committed to expanding its cooperation with Maldives in trade and investment, says Saudi ambassador Yahya Hassan Al-Qahtani, adding that the Saudi Fund for Development has invested around USD 488 million (MVR 7.5 billion) in the development of the Maldives since 1978.

He made the remarks in a message on Wednesday, on occasion of Saudi Arabia’s 96th National Day.

In his message, Al-Qahtani said that the Saudis take great pride in the longstanding relations between Maldives and Saudi Arabia.

“Our two countries are bound by deep ties of Islamic brotherhood, mutual respect and close friendship. These relations have continued to grow through high-level engagement and expanding cooperation in political, developmental, economic, educational and Islamic fields,” he said.

Al-Qahtani noted that development cooperation remains an important pillar the Maldives-Saudi partnership.

“Since 1978, the Saudi Fund for Development has contributed approximately USD 488 million towards development projects and programs in the Maldives across vital sectors, including infrastructure, housing, healthcare, water and sanitation, and transport,” he said.

“The Kingdom also deeply appreciates the sincere and brotherly positions consistently expressed by the Republic of Maldives towards Saudi Arabia. These positions reflect the strong solidarity, mutual respect and enduring friendship between our two countries and peoples.”

He also reiterated Saudi Arabia’s commitment to expanding its cooperation with the Maldives, including in trade, investment and development.

“Looking ahead, we remain committed to expanding our cooperation in Islamic sector, trade, investment, development, tourism, education, technology and other areas of mutual interest, and to translating the strong bonds between our two nations into further practical partnerships that contribute to the prosperity and well-being of our peoples,” he said.

He concluded his message with a prayer for both Maldives and Saudi Arabia to continue to be blessed with security, stability, prosperity and progress.