Request for Expression of Interest (REOI)

Introduction:

1. The Ministry of Economic Development and Trade invites interested parties, local and foreign, with demonstrated financial and technical capability, to submit an Expression of Interest (EOI) for the following:

a) Establishment of the Maldives State-of-the-Art Video Production Facility with the scope of (i) Develop a cutting-edge filming facility in Maldives for local and international demand, (ii) Features world-class production facilities equipped with the latest technology for production, sound stages, green screens with OTT(Over-the-Top)-grade equipment, and (iii) Includes training programs to empower local talent and skills, (iv) Intertwines conservation of significant cultural and historical landmarks, integrating it akin to a walkthrough museum experience and a backdrop for high-quality video shoots, enriching visitor experiences. [details of the project are provided in Annex I to this announcement]

b) Interested applicants are open to suggest additional commercial components that complement the overall viability of the Maldives State-of-the-Art Video Production Facility, as noted above.

2. The purpose of issuing the REOI is to gauge the interest of the private sector by seeking input and feedback from interested parties on the following areas:

a) Gather information about potential firms that are interested to further explore the activities noted herein.

b) Seek views from interested parties on the most optimal models to structure projects involving business components as outlined.

c) Record concerns of the interested firms, if any.

3. The Expression of Interest is solely with the objective to better determine private sector interest in carrying out projects as noted herein and to seek suggestions from private entities on how best to design the project scope or other business parameters relating to the projects.

4. The Expression of Interest shall not be used to either shortlist or disqualify applicants. Any entity that has not submitted an Expression of Interest shall also be allowed to participate in any subsequent proposal submission processes that may be announced by the Government according to terms and conditions that may be specified thereof.

Submission requirements:

1. The EOI submitted shall consist of the following:

a) Name, address, telephone number, email address of the applicant

b) Details of the individual firm, company, or consortium, including company profile, expertise, and resource capacity.

c) Contact person with designation

d) Brief background and profiles of previous similar projects undertaken.

e) Applicant may submit the following details:

• Potential scope the applicant proposes for the project.
• Commercial and economic activities that may be explored at the location.
• Any relevant information related to the competency and ability to undertake the project.
• Any concerns or issues the applicant foresees regarding the project.
• Any suggestions relating to the structuring of the project.

2. Interested applicants may submit queries relating to this REOI to the following email address of the Ministry up to 25^th June 2024:

Email: [email protected]

3. Interested applicants are requested to submit an EOI by 30^th June 2024 in electronic form to the above email address. The EOI shall contain at least the information noted in this section.

Annex I: Maldives State-of-the-Art Video Production Facility

The Government, recognizing the potential of nurturing a creative economy to spur economic growth and diversification, aims to outline opportunities for foreign investors to contribute to the development of a thriving creative ecosystem in the Maldives.

With the strength of the renowned and breathtaking landscapes of the Maldives backing the venture, this investment opportunity opens the doors to establish a State-of-the-Art Video Production Facility, to address the escalating need for top-tier production facilities, particularly within the lucrative tourism sector, and capitalize on the growing demand for digital content creation by establishing specialized facilities and training programs.

Scope:

• Develop a State-of-the-Art Video Production Facility in the Maldives to cater to the rising demand for filming and production facilities, serving local hospitality establishments including local guest houses, and resorts, and facilitating international movie/music video productions.
• The State-of-the-Art Video Production Facility features world-class production facilities equipped with the latest technology required for pre-and post-production, sound stages, numerous shooting locations, and green screens, furnished with OTT(Over-the-Top)-grade equipment.
• The State-of-the-Art Video Production facility to include training programs to foster employment opportunities for local talent, and to nurture the necessary skills required across various aspects of film production.
• The State-of-the-Art Video Production facility intertwines the conservation of significant cultural and historical landmarks of Maldives. This integration offers visitors a captivating cultural journey akin to a walkthrough museum experience, and it provides an exceptional backdrop for high-quality video shoots and photography sessions, enriching the visitor market experience.

The Government is keen to explore possible partnerships with interested international investors, willing to invest in the budding creative industry in the Maldives, and remains open to additional commercially lucrative products and services to complement the above.

Investor incentives under the Special Economic Zone framework are possible considering the scale and type of services offered.

The Government is keen to explore possible partnerships with interested applicants in the budding creative industry in the Maldives and remains open to additional commercially lucrative products and services to complement the above.