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Members of the People's Majlis have called for immediate cancellation of licenses granted to foreign companies to fish in Maldives Exclusive Economic Zone (EEZ). Notice the emphasis on the word 'immediate," which is surprising semantics, coming as it were from a Majlis which has already completed its 5-year term apparently oblivious to the EEZ issue, and which has just woken up Rip Van Winkle style.
Will the new policy remain merely symbolic like most such populist measures? The history of investment opportunities in the Maldives reserved for locals have not been very glorious. Most such opportunities end up in foreign hands, with a local 'owner' as a front. We would sincerely hope that those who spoke so vehemently in the Majlis yesterday won't become fronts for the next generation of foreign royalty holders. Look who's talking by clicking here.
