President Dr Mohamed Muizzu has reaffirmed the role of Micro, Small, and Medium Enterprises (MSMEs) in driving economic diversification and sustainable development in the Maldives, in a message shared on the occasion of International MSMEs Day.
Posting on his official X account, President Muizzu stated that his administration remains committed to enabling small businesses through access to inclusive financing and wider market opportunities. He described MSMEs as a foundation for the country’s efforts to broaden its economic base, particularly as the Maldives works towards becoming a developed nation by 2040.
Referencing this year’s global theme, “Enhancing the Role of MSMEs as Drivers of Sustainable Growth and Innovation,” the President linked the objective to national plans for resilient and inclusive growth. He noted that MSMEs not only support livelihoods across the islands but also contribute to community wellbeing and cultural continuity, especially within sectors like fisheries and the creative industries.
Among the measures cited were the MVR 100 million start-up loan scheme, which has reportedly helped more than 350 women-led businesses, and other financing tools designed to expand access to credit in island communities. The President also referenced the government’s Creative Economic Strategy, which aims to increase the creative sector’s share of GDP to 15 percent, by encouraging MSMEs to use cultural resources as an engine for economic development.
The upcoming Maldives Expo 2025 was described as a platform for businesses to gain exposure and connect with new markets.
In closing, the President acknowledged the challenges that small business owners continue to face and called for sustained knowledge-sharing and international cooperation to support entrepreneurial innovation.
