At the opening ceremony of the Build Expo held in Hulhumalé, Minister of Economic Development and Trade Mohamed Saeed announced that the government is working to dismantle regulatory and structural barriers hindering the growth of key industries, with a particular focus on construction.
He highlighted the need for policy changes that would enable industries to expand more effectively, framing this effort as part of the broader strategy to drive economic development. Among the changes under consideration is the formulation of a new foreign investment policy under the current Foreign Investment Act. The policy is expected to clarify which business sectors are open to foreign participation and which will be reserved exclusively for Maldivians.
The government has already initiated consultations with stakeholders, including representatives from the construction industry, to determine these distinctions. The aim is to establish clear boundaries that support local enterprise while also making space for targeted foreign investment in areas that require external expertise or capital.
The Minister noted that the construction sector will be among the first to benefit from these policy revisions, given its central role in national infrastructure and development.
The Build Expo, which brings together 60 exhibitors from the Maldives, India, Sri Lanka, Thailand, and China, serves as a platform to showcase products and services in the construction field. Hosted at Central Park in Hulhumalé, the four-day event is scheduled from 24 to 27 April, with evening sessions held from 4:00 to 6:00 pm and 8:00 to 10:00 pm.
