Vice President Uz Hussain Mohamed Latheef has reaffirmed the government’s commitment to fostering an innovative economy as a key component of President Dr Mohamed Muizzu’s vision for national development. Speaking at the inauguration of the Maldives MSME Awards 2025, organised by the Business Centre Corporation (BCC), the Vice President highlighted the indispensable role of micro, small, and medium enterprises (SMEs) in driving economic progress.
In his address, the Vice President described SMEs as the backbone of the Maldivian economy, emphasising their contributions to job creation, innovation, and overall economic growth. He praised the entrepreneurs behind these businesses for their dedication, noting their efforts not only advance the economy but also build societal resilience and prosperity, often requiring personal sacrifices.
The Vice President also acknowledged the emergence of new opportunities in areas such as art, digital markets, and international business. He stressed the importance of equipping entrepreneurs with skills and knowledge to adapt to these evolving markets. While recognising progress in supporting SMEs, he noted the need for further improvements, particularly in providing financial assistance, technical training, and legal frameworks to support their growth.
At the ceremony, the Vice President officially launched the Maldives MSME Awards 2025. The awards aim to honour the achievements of businesses and individuals contributing to sustainable economic development. They seek to celebrate exceptional accomplishments on both national and international levels, promote productivity and skill development, and support the growth of the Maldivian workforce and enterprises.
The Maldives MSME Awards 2025 reflect the government’s ongoing efforts to encourage innovation and recognise the critical role of small businesses in shaping the future of the national economy.
