Government to Award Projects Under MVR 2.5 Million to SMEs

Minister Ameer / Photo : Sun Online

The government has decided to award projects which cost MVR 2.5 million or less, to Small and Medium Enterprises (SMEs).

As per the Ministry of Finance, the financial laws urge the government to prioritize Maldivian businesses when awarding projects, purchasing equipment or obtaining services.

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In line with this, procurement by any organization either private or state-owned should be carried out in a way only Maldivian SMEs can take part in it.

Statistics released by the Ministry of Economic Development show that approximately 70% of businesses in the Maldives are SMEs.

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