The Maldives–Singapore Business Forum 2025, held at Capella Singapore, brought together over 200 delegates, including high-ranking government officials, international investors, and leading executives from both countries. As part of President Dr Mohamed Muizzu’s ongoing state visit to Singapore, the event highlighted the Maldives’ ambition to emerge as a premium investment destination in the Indian Ocean.
Officiated by President Muizzu and attended by Singapore’s Minister for Sustainability and the Environment Grace Fu Hai Yien, the forum served as both a retrospective of the 50 years of bilateral trade ties and a forward-looking platform for new investment pathways.
A central theme of the forum was the Maldives’ Vision 2040 – the administration’s long-term national strategy to achieve developed country status by mid-century. Minister of Economic Development and Trade Mohamed Saeed, in his opening address, presented Vision 2040 as a roadmap for economic transformation, positioning the Maldives as a climate-resilient, investor-friendly island economy with growth potential across logistics, renewable energy, real estate, digital services, and the creative industries.
Three major agreements were signed during the forum. The Ministry of Finance and Planning signed a Memorandum of Understanding with Singapore Cooperation Enterprise to strengthen institutional capacities of Maldivian State-Owned Enterprises. The collaboration will focus on study visits, training programmes, and consultancy support to modernise management practices and drive efficiency in the public sector.
A landmark Services Agreement was also signed between the Government of Maldives and Henley & Partners to establish a Residence by Investment Programme. Touted as a gateway for high-net-worth individuals to invest and reside in the Maldives, the programme is expected to open new channels for real estate development while attracting foreign capital.
The third major deal of the forum was an Investment Agreement with APM SPV Pvt. Ltd for Project Solar City, which will see the construction of the Maldives’ first large-scale floating solar project. The 100-megawatt facility, to be developed under the Special Economic Zones framework, marks a significant step in the country’s effort to meet 33 percent of its electricity demand from renewable sources by 2028.
The forum featured a high-level panel discussion under the theme “From Foundation to Future: Deepening Investment Partnerships in Maldives.” The panel explored emerging sectors under the new Foreign Investment Law and offered practical insights on long-term investment strategies, regional trade prospects, and public-private collaboration models.
In a dedicated recognition segment, Maldivian and Singaporean businesses and individuals were honoured for their sustained contributions to bilateral trade over the past five decades. These awards were presented by President Muizzu, symbolising the longstanding partnership between the two nations.
Singapore Minister Grace Fu highlighted the shared vulnerabilities of both island states to climate change, noting that both countries depend on imported food and limited natural resources. She called for deeper collaboration in sustainability, urban planning, and digital infrastructure, areas she identified as closely aligned with the Maldives’ development agenda.
Minister Saeed announced that the Maldives has already secured USD 680 million in investment commitments for projects within the country’s Special Economic Zone. He described this as a “historical advancement” towards the government’s goal of attracting USD 1 billion in SEZ investments over the next five years. He reaffirmed that the administration remains committed to reducing dependence on tourism and building a diversified, resilient economy under a transparent regulatory framework.
The forum concluded with sideline events and networking sessions designed to facilitate business-to-business engagement and strategic partnerships. Government officials from both nations expressed confidence that the momentum generated by the event would translate into sustained investment and deeper economic cooperation.
