Ilyas Labeeb, the presidential candidate of The Democrats party, has committed to establishing small and medium enterprises (SMEs) as a key foundation of the economy.
Speaking at a campaign event, Ilyas highlighted the predominant contribution of tourism to the income of the Maldives, yet noted that the benefits are not fully reaped by the residents of the country. He outlined his manifesto's proposition for financial support to SMEs under the user-friendly business policy. He noted that bolstering these enterprises would enhance people's earnings and he firmly pledged to establishing SMEs as a key foundation of the economy.
Expanding on the user-friendly business policy detailed in his manifesto, Ilyas has committed to eliminating Goods and Services Tax (GST) for small businesses. His pledges extend to the enhancement and advancement of small enterprises, including a three-year exemption from Tourism Goods and Services Tax (TGST) for tourism investors. He further highlighted his intention to augment opportunities and support for taxi drivers. His manifesto also encompasses a reduction in travel costs between Male' City and the islands and reforms to the Aasandha health insurance system.