Monday, September 2, 2013

Maldives Election Cadidates Debate - 2013

All four candidates contesting the presidential elections slated for this Saturday have highlighted the
significance of enhancing industries and boosting state revenue in order to revive Maldives' flailing economy.
During Sunday's presidential debate organised by the state run Maldives Broadcasting Corporation (MBC) and Maldives National University, all candidates agreed on strengthening the tourism and fishing industry.

Incumbent President Mohamed Waheed Hassan who is seeking re-election as an independent candidate stressed that in addition to developing tourism, the capacity to process fish is vital to boosting the fishing industry.



He highlighted the importance of creating new industries and said such efforts were already underway. Waheed noted financial and bunkering facilities as new industries that he would develop in order to increase revenue.

Creating employment opportunities is pivotal to economic development, he added.

President Waheed further said his government had been trying to curb the deficit and that he had managed to bring it down from 14 percent to five percent.

Progressive Party of Maldives (PPM) presidential candidate Abdulla Yamin proposed to lease 10 islands per year to develop resorts whilst increasing fishing boats from 900 to 1,500 in five years. He also pledged a comprehensive insurance scheme for fishermen.

He also reiterated his pledge to wipe out the budget deficit in two years and achieve a surplus budget in the third year.

In addition, he said a PPM government would amend foreign investment laws and establish a system within the local courts to expedite cases in order to gain the confidence of foreign investors.

According to Yamin, he will explore the opportunity of finding oil or gas from the Maldives. Whilst noting that 25-30 percent of the recurrent expenses is on fuel, Yamin said he would try to find cheaper alternatives.

Opposition Maldivian Democratic Party (MDP) candidate Mohamed Nasheed primarily focused on enhancing tourism and agriculture through his guesthouse and agri-business policies.

The former president also pointed out that he would increase job opportunities, minimise state expenditure, decrease income inequality and strengthen the tax system.

Jumhoory Party presidential candidate Gasim Ibrahim said the revenue generated from tourism and fishing must be boosted to ensure a sustainable economy. He noted the creation of a transhipment ports and investment banks as his many pledges for the election.

The business tycoon also said fundamental services such as sanitation and health care would be disrupted if the deficit is not curbed through increasing state revenue.

He also proposed to establish facilities for the functioning of the state without cutting down on salaries, and pledged to introduce a complete tax system.

In response to a question of how the candidates hope to maintain foreign currency circulation in a sustainable way, Yamin said he would boost foreign currency influx by amending foreign investment act and bringing in more foreign investments.

Without meddling with the exchange rate, foreign currency can only be boosted by minimising waste within the government and introducing more foreign investments, he added.

Nasheed, meanwhile, said the state could earn $3 billion from the guesthouse business. He also insisted that the confidence in local banks and economy must be enhanced. Ousting foreign investors and "expropriating" resorts would scare away foreign investors, he added.

Gasim noted that the current policies and regulations needed to be properly implemented in order to solve the foreign currency shortages. In addition to boosting investor confidence, Gasim pledged to resolve the undocumented expatriate workers' problem faced by the country.

Noting that poor education and health care facilities were taking out a large portion of foreign currency out of the country, Gasim also pledged to strengthen such services and look to retain the money in the Maldives.

President Waheed hoped to retain foreign currency in local banks by increasing incentives to people who deposit foreign currency.

Nasheed, who had met his successor Waheed for the first time after the controversial transfer of power in February last year, did not greet him at the start of the show.

Nasheed stepped down amid opposition protests capped off by a police mutiny but he maintains that he was removed by "coup d etat" orchestrated by his vice president, Waheed.

During the debate, both had exchanged verbal blows.

At the end of the debate, Nasheed had tried to leave without shaking the hands of his rivals and the photo session. However, when TVM employees asked him, Nasheed returned but only shook the hand of Yamin.

But he did participate in the photo session.

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