President Dr. Mohamed Muizzu has announced that the Maldives is attracting significant multimillion-dollar investments aimed at strengthening the economy and Special Economic Zone (SEZ). He made the statement during a public forum called 'Ahaa' held at Sultan Park to engage with the public and address their concerns.
Speaking at the forum, President Dr. Muizzu highlighted the challenges inherited by the government, citing high levels of domestic and external debt. He emphasised the importance of prioritising the development of the economy by addressing both types of debt.
Additionally, President Dr. Muizzu underscored the government's commitment to economic revival, notably by ceasing the practice of printing money. He emphasised the significance of the decision, noting its endorsement by international financial bodies like the International Monetary Fund (IMF) and the World Bank.
Furthermore, President Dr. Muizzu outlined various initiatives undertaken by the government to strengthen the economy and enhance revenue streams. He mentioned ongoing efforts to attract investments, particularly in the finance and energy sectors, including an upcoming agreement to establish a 110MW renewable energy project investment in the Maldives' SEZ.
Despite inheriting a challenging economic landscape, the current government has received acclaim from international financial institutions for its proactive measures. President Dr. Muizzu has expressed confidence that these efforts would lead to economic growth exceeding 5%.