The government has stepped up efforts to attract foreign investment, with Minister of Foreign Affairs Dr Abdulla Khaleel citing amendments to the Foreign Investment Act and the development of Special Economic Zones (SEZs) as central to its economic reform agenda. Minister Khaleel outlined these initiatives at the Maldives–Singapore Business Forum, held in conjunction with President Dr Mohamed Muizzu's official visit to Singapore.
In his address to business leaders, Minister Khaleel reflected on the longstanding relationship between the two countries, noting that diplomatic ties were formalised a decade after Maldivian independence and that both nations joined the United Nations on the same day. As the two mark 50 years of bilateral relations, he called for deeper cooperation to advance shared economic goals in the decades ahead.
Turning to the Maldives' domestic progress, Minister Khaleel highlighted the country's growing appeal across a range of investment sectors. He identified opportunities in general business ventures, aviation, tourism, logistics, renewable energy infrastructure, and digital services: fields he described as well-positioned for foreign capital.
Central to the government's investment framework, he said, is the first substantive revision of the Foreign Investment Act in 45 years. The amended legislation, Minister Khaleel said, is intended to clarify permissible investment areas and introduce sound operational standards, thereby enhancing legal clarity and safeguarding investor interests.
In parallel with the legislative changes, the Maldives is expanding its investment landscape through the development of SEZs. These zones, according to Minister Khaleel, are designed to accommodate infrastructure projects, support data localisation, and promote blue economy ventures. "It establishes a platform for infrastructure development, data localisation, and projects linked to the blue economy," Minister Khaleel said, reaffirming the government's commitment to legal frameworks that ensure operational efficiency within the zones.
As Minister Khaleel concluded his remarks, he underscored the government's broader ambition: to present the Maldives as a reliable and attractive destination for global investment. He noted that the reforms implemented over the past eighteen months, with the revised Foreign Investment Act at their core, signal a deliberate and strategic push to strengthen international investor confidence.