Minister of Economic Development and Trade Mohamed Saeed has stated that President Dr. Mohamed Muizzu's state visit to India, marks the start of a new chapter of the Maldives-India trade. The remarks were made by the minister during the India-Maldives Business Forum held in New Delhi, India.
In his address, Minister Saeed shed light on the economic and trade relations between the Maldives and India. Highlighting the strong relations in this field, the minister expressed confidence that the bilateral ties will continue to strengthen moving forward.
During the forum, Minister Saeed emphasised the government's efforts to diversify the Maldivian economy. The noted that the outcomes of initiatives undertaken over the past ten months are now evident, aligning with President Dr. Muizzu's vision of transforming the Maldives into a developed nation. Hestated that the president’s primary focus is on advancing the Maldives towards a digital economy, expanding the financial sector, and developing new revenue-generating industries. As such, he stated that the government has introduced the maritime sector to the Maldives and is continuing to expand it.
Furthermore, Minister Saeed affirmed that the Maldives offers a secure environment for investment. Providing information on the recent legislative changes to ensure the security of investors, the minister stated that 45 -year old legislation related to foreign investment was now amended to fit to modern standards. He added that the changes being brought to the financial system will also ensure the security of intellectual property. The minister expressed optimism about achieving positive economic changes through collaboration between the two countries.