President Dr. Mohamed Muizzu reaffirmed his administration’s commitment to providing a safe, secure, and efficient space to conduct business in the Maldives, adding that the Administration’s development philosophy is one of engagement, partnership building, and focused delivery.
He made the remarks while delivering his keynote address today at Invest Maldives 2024 Dubai, held at Burj Al Arab, Dubai, UAE.
President Muizzu noted that the reactivation of the Special Economic Zones framework, which provides attractive incentives for strategic investments. The President further detailed that a new Foreign Investment Law is in the pipeline, with provisions guaranteeing investment security and paving the way for the execution of investment treaties.
Speaking further, President Muizzu stated that the Government recognizes the need for engagement in public-private partnerships to achieve our development objectives. He noted the Government's efforts to create an enabling and conducive environment to facilitate private sector investments, streamline procurement processes to improve efficiency and transparency, and provide assurance for investors of the safety and security of investment.
The President underscored that, as an emerging economy and a small island developing state, the Maldives faces a multitude of challenges. These include the tight liquidity in global markets and fiscal challenges stemming from the Government's ambition to accelerate growth through substantial investments in key infrastructure.
He added that the Government is cognisant of these challenges and well-positioned to tackle them head-on and turn them around in conditions favourable to us. He also highlighted some plans for diversifying the economy to make it more sustainable and resilient to future shocks.
Numerous investors from the Maldives and the UAE attended Invest Maldives 2024, organised by Invest Maldives, Ministry of Economic Development and Trade. A ministerial delegation accompanied the President to the event.
This is the second Invest Maldives Forum organised by this Administration this year. The first one was held in China in January this year, in which the President also delivered a Keynote Address.
