The Maldives government has signed an agreement with MBS Global Investments, Dubai -based family office, to develop a 9 billion dollars in Checkcha and Blocchain Center in Mal, the capital of the South Pacific Archipelago.
According to a report From The Financial Times, the agreement, signed on May 4, was made in the hope of moving the Maldives away from relying on tourism and fisheries by attracting foreign direct investment to Blockchain and Web3 technologies.
The project defines plans for the Maldives International Financial Center, a facility of 830,000 square meters that will employ up to 16,000 individuals.
The project will be completed by an estimated five years, and the requirements for the ambition to develop aspirations will be more than $ 7 billion in the GDP GDP in the Maldives.
The planned encryption center reflects the increasing importance of the encryption industry all over the world. However, the Maldives’s ambitions to become a global financial center must deal with good capitalist judicial states such as Dubai, Singapore and Hong Kong.
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I have already established encryption and Vetect centers on the scene
Dubai, in the United Arab Emirates (United Arab Emirates), is a quickly and growing center thanks to its positive organizational environment that encourages innovation and the local government ready to explore Blockchain technology in realistic applications.
On April 6, the Dubai Ministry of Land (DLD) and the regulatory authority of virtual assets (VARA) signed deal To connect the land record to Blockchain, allowing the most comprehensive real estate code.
Hong Kong also placed itself as an encryption center through the pre -emptive regulations that attracted hundreds of Web3 and Fintech companies.
According to Ivan Ivanov, Wow Summit, the Blockchain Conference in Hong Kong, the Special Economic Zone enhances its location as a bridge between Western economies and China to attract investment and works as an organizational sand fund.
Singapore is also a major international encryption center, where there are dozens of digital asset exchanges inside the country and hundreds of Web3 companies that are headquarters there.
The country continues to attract global investment through an organizational approach that encourages technological experimentation without fear of organizational revenge.
magazine: Crypto City: Directory to Dubai
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