Authentic Maldives, a state-backed initiative to support small and medium-sized enterprises, reported sales of USD 2.92 million in the first ten months of the year, a sharp rise from USD 1.70 million during the same period last year.
Administered by the Business Center Corporation, the programme’s expansion has been driven largely by women entrepreneurs, who account for 69 percent of participating businesses. Officials said the figure highlights the growing role of women-led enterprises in the country's economy.
The initiative has established a presence at Velana International Airport and Thoddoo in Alifu Alifu Atoll, while extending its reach abroad to Japan’s Kansai International Airport, Narita International Airport and the World Bank headquarters. To broaden access to foreign markets, Authentic Maldives recently launched an online storefront on alibaba.com, enabling international buyers to purchase Maldivian products directly.
Minister of Economic Development and Trade Mohamed Saeed described the digital expansion as a pivotal step in empowering local merchants and promoting indigenous products globally. He added that these opportunities are reinforced by the strategic advantages of the Maldives-China Free Trade Agreement.
The initiative’s trajectory aligns with President Dr Mohamed Muizzu’s economic agenda, which seeks to raise the creative economy’s contribution to 15 percent of GDP. To advance that goal, the government convened the country’s largest national exhibition to showcase local industry capabilities.