In a frank assessment of historical economic policy, the Minister of Economic Development and Trade, Mohamed Saeed has declared that no previous administration has taken effective measures to resolve the chronic problems plaguing small and medium enterprises (SMEs).
The Minister's comments were made during the debut episode of the Spokesperson Podcast, produced by the President’s Office.
Minister Saeed detailed the current government’s response following a meeting between President Dr Mohamed Muizzu and SME business community last December. Acknowledging the long-standing neglect, Minister Saeed confessed that even during his own prior tenure as trade minister, SMEs were not given such significant priority.
In a decisive move, the President’s Office has now issued direct instructions to all relevant government agencies to address the specific complaints raised by the business community.
Key interventions already underway include operational improvements at Velana International Airport (VIA) and the Male’ Commercial Harbour. These involve extending service hours and, crucially, increasing the demurrage-free period for goods from three days to five, a change aimed directly at reducing storage costs and logistical delays for importers.
Additionally, the Ministry of Finance and Planning and the Maldives Inland Revenue Authority (MIRA) are collaborating to resolve issues related to outstanding payments owed to companies.
Addressing critics who label these measures as fiscally burdensome, Minister Saeed warned that blocking such policies would only inflict further suffering on small businesses. He emphasised that creating a favourable operating environment is essential for stimulating broader economic activity, a core focus of President Muizzu’s agenda.
The Minister concluded by proclaiming that 2026 and 2027 will be landmark years for SMEs, marked by significant steps to foster a better business climate and expand government support initiatives.