Minister of Economic Development and Trade Mohamed Saeed has emphasised that there are no barriers to youth development. He made the remarks during the launch of the Creative Economy Fund and a new five-year strategy.
Speaking at the event, Minister Saeed highlighted the country's synchronised economy, noting that fostering a creative economy is a key priority of President Dr. Mohamed Muizzu's administration. He stressed the government's commitment to building a skilled economy in the Maldives. He also noted that the recent Trade and Investment Framework Agreement with the United States (US) included discussions on enabling cross-border transactions between the two nations.
Additionally, Minister Saeed revealed that the government is collaborating with platforms like YouTube, Google, and PayPal to facilitate financial transactions through these services. He noted that this is something many young Maldivians involved in online businesses have been eagerly awaiting. He also shared that a ministry survey found over 400 artisans actively creating and selling products online.
Furthermore, Minister Saeed said that there are no size restrictions for e-commerce platforms in the Maldivian market, and the government will support their growth. He encouraged citizens to seize these emerging opportunities, noting that while the number of opportunities for youth may seem limited, the potential for expansion is significant.
The government expects that cross-border transactions through PayPal will soon be available as part of its efforts to establish a creative economy in the Maldives. It also aims to grow the country's digital economy by opening doors for Maldivian businesses in major global markets.