Minister: Foreign investors ready to develop modern cinema in Hulhumale’

Youth Minister Ibrahim Waheed (Asward) has revealed that discussions have been held with foreign investors on developing state-of-the-art cinema in Hulhumale’.

Asward spoke regarding the condition of Olympus cinema in Male’ during Monday night’s ‘Ahaa Forum’ session. He went on to describe the cinema as “a bomb that has barely not exploded’.

The Minister highlighted difficulties faced by film producers in generating profit due to space constraints and lack of resources in the cinema. Nevertheless, he emphasized that the closure of the cinema for renovations would result in huge losses to the Maldivian film industry.

Olympus was closed for several months for renovations during former president Ibrahim Mohamed Solih’s administration. The extended closure of the cinema had posed significant difficulties to the film industry.  

One of the biggest challenges faced by the Maldivian film industry is the lack of cinemas available to screen movies. This shortage remains the primary obstacle to generating income within the industry.

Asward said the idea of Olympus must be let go of, and that a new, state-of-the-art cinema needs to be developed in the Maldives.

“Olympus, we must let go of that idea. We need to develop a state-of-the-art cinema. By the will of Almighty, we will accomplish this. We have held discussions with potential investors for the purpose. I am not just saying something for the sake of it, to please you,” he said.

According to Asward, foreign investors are ready to develop a state-of-the-art cinema in the Maldives.

The Minister detailed that a state-of-the-art cinema will be developed after acquiring land from Hulhumale’. The cinema will comprise of approximately four theaters.

“We will surely bring an end to lack of movie releases due to the absence of cinemas to screen them,” he added.

The current administration is undertaking significant efforts to facilitate further opportunities to artists. As part of these efforts, the current administration has decided to provide financial assistance to artists. According to Asward, MVR 25 million will be disbursed to the first batch of artists under this initiative. The Minister said the government hopes to disburse the funds in August.