Thursday, November 16, 2006
Reform - Tourism

It is a fact that many Maldivians are concerned with the policies governing the tourism industry of the Maldives. Most concerns stem from the obvious polarity of the distribution of resources - tens of thousands receive a fraction when a handful enjoy magnitudes of the bounty. I reckon this disparity sprouts from ill-conceived policies - especially the Tourism Masterplan.

You're saying 'if you're so smart, why don't you make a policy yourself', aren't you? See if you like this proposition as a fundamental policy:


  • Hotel - a hotel is defined as a property where accommodation can be rented, and services and facilities available (charged or otherwise).

  • Resort - a resort is a self-sufficient hotel which patrons can opt to stay at as the only abode throughout the duration of their stay in the Maldives (wherein the resort provides all facilities and services needed by its patrons).

  • Lease - hotel/resort properties shall be leased to individuals or legal entities under agreement. All such lease agreements shall expire on or before the 30th year from the date of signing.

  • Assessment scheme - a scheme under which all bids will be assessed shall be published as part of the terms of the lease agreement. An integral part of this assessment scheme shall be a barometric scoring system which gives scores proportionate to the number of partners in the principle legal entity (implying that the lowest possible points shall be scored by bids of individual persons). If two or more parties attain the same scores, a winner shall be drawn from an open lottery.

  • Partners - the partners of any legal entity, party to a lease agreement, may not sell, transfer or pledge their shares for a period of at least 15 years from the date of signing the lease agreement.

  • Investment - once an individual or legal entity has been awarded a resort, they shall incorporate an investment firm (or a VC) of which the principle owner of the lease agreement shall attain no less than 20% of all shares. These shares shall not be relinquished, sold or pledged for a period of at least 15 years. The share structure of the investment firm may not be revised for a period of at least 15 years.

  • Tax - a revenue tax of 3% of the gross revenue or a fixed sum of USD500,000.00, whichever is greater, shall be levied from the investing firm annually. Hotel/resort properties which have been leased before the ratification of this policy shall adhere to this new policy, and the taxation clause herein, from whence the existing agreements of such properties are terminated/expired.

1 comment:

Anonymous said...

ggod stuff..can we have more like this?