7/30/2019 Maldives World Atoll Project-2

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MALDIVES WORLD ATOLL PROJECT MASTER PLAN

DRAFT -1

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Exhibition and Travel Group (ETG)All rights reserved

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construction period will be 48 months to 60 months. ETG starts to arrange the

payment of lease since the first City hotel open for operation.

3) The construction period of the Islands of Agriculture (including these preservedand protected environmental sensitive islands) will be 48 months, the lease will be

consulted based on the certain policies.

4) The lease term (duration) of the Islands and Atolls which are available to theProject is 99 years. The 99 years leasing term hopefully may be amended by

legislation of Maldives.

5) Casino is one important element to attract tourists. The Maldives World AtollsProject will operate Casino and other entertainment facilities. Hopefully, Maldives

Government can confirm at early stage, because the decision will influence the

design of the hotel and tourism area.

6) The extension and upgrade of International Airport is the most important factor ofthe Project. In future, USP will received millions tourism and more than hundreds

daily flights will arrive USP. It will be impossible if every tourist coming from

China, Asian countries and worldwide, are to be transit from Male International

Airport. On the other hand, the capacity of the operation of Male International

Airport is not enough to meet the increasing demand. Other foreign company can

construct and operate this Airport. If there is no other foreign company to

construct and operate, ETG would like to do so.

7) Immigration: It will attract more people to stay and spend longer holidays inMaldives if Government of Maldives considers granting the Permanent Resident

Permit to those who invest in the timeshare holiday apartments or villa. These rich

people will stay longer in Maldives and make contribution to Economy of

Maldives.

8) Taxation: Maldives World Atoll Project is a long term development project thatwill bring more job opportunities and improve the living standard of people,

attract more foreign tourists and business travelers to visit Maldives and increase

the income of foreign reserve. Hope Government of Maldives could waive the

import tax on the building materials and tourism goods used in tourism facilitiesduring the construction period and operation period. All exempt the import tax on

the consumption goods used in tourism facilities. Additionally, hope government

can consider to offering a special tax rate package and incentives to the project

and support the development of the project.

9) ETG hopes Government of Maldives could consider the Maldives World AtollProject is a special project and enjoy special conditions and policy on taxation,

immigration, tourism operation and management etc that will build USP to be a

special tourism zone and benefit a rapid development in certain period.