Maldives Project Update

Due to circumstances out of Webb Fontaine’s control, the previously awarded contact with the Maldives Ministry of Finance will not be going ahead with Asian Development Bank (ADB).

In a recent article the Finance Ministry’s Senior Policy Director, Hussain Hameem comments, the Government stated that the “complex” project was “wrongfully awarded” due to a “minor oversight” by all parties involved, including the bid committee, the ministry and ADB.

Webb Fontaine were not aware of the specific requirement prior to bidding for the project. The requirement is that the submitted company expertise and experience needed to be held by the local entity only, in this case Webb Fontaine Asia.

Webb Fontaine Group has proven success and vast experience in Single Window solutions globally, however Webb Fontaine Asia was retroactively disallowed to reference vast expertise of Webb Fontaine Group, this was an oversight from all parties involved and has subsequently impacted the project.

Didier Reymond, CEO of Webb Fontaine commented, “We are disappointed by the news and subsequent impacts of the above; we wholeheartedly support the Maldivian Government with all its economic transformation efforts and hope to work with them again in the future and replicate the successful business partnerships we’ve had and continue to have with many other governments across the world.”

About Webb Fontaine:

Trusted by governments globally, Webb Fontaine provides industry wide solutions to accelerate trade development and modernization. The company uses unique technology including AI to enable countries to emerge as leaders in the future of trade.

Knowledge transfer is at the core of Webb Fontaine; comprising of a team of experts who work across the board, empowering local communities and governments.

As an industry leader with the largest R&D centres in the industry, Webb Fontaine is constantly developing international trade practices connecting countries, borders and people.

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