President Dr Mohamed Muizzu has underlined the critical role of private-sector investments in achieving the nation’s ambitious development goals. The President made these remarks while delivering the keynote address at the Invest Maldives 2024 Dubai forum, held at the Burj Al Arab in Dubai, UAE.
During his speech, President Muizzu emphasized the government’s commitment to creating a secure and efficient business environment in the Maldives. He highlighted the reactivation of the Special Economic Zones framework, offering incentives for strategic investments, and outlined plans for a new Foreign Investment Law that would guarantee investment security and enable investment treaties.
The President noted the Maldives’ need for public-private partnerships to meet development objectives. He detailed ongoing efforts to streamline procurement processes, provide investment safeguards, and establish a favourable business climate for private sector ventures.
Acknowledging the economic challenges facing the Maldives as a small island developing state, President Muizzu expressed confidence in overcoming these hurdles and fostering favourable conditions for growth. He also outlined efforts to diversify the economy and enhance economic resilience.
The President expressed gratitude for the strong presence of UAE investors and the long-standing partnership between the two nations. He highlighted the UAE’s position as the Maldives’ top trading partner, with trade reaching half a billion dollars in 2023. President Muizzu expressed the Maldives’ interest in learning from the UAE’s development model.
Concluding his remarks, President Muizzu recognized the urgency of global economic challenges, advocating for international collaboration to strengthen resilience. The Invest Maldives 2024 Dubai forum attracted numerous investors from both the Maldives and the UAE.
