President Mohamed Muizzu has stated that the Maldives is working towards building a competitive economy by opening its doors to sustainable investment. He made the remarks while inaugurating the Maldives–Sri Lanka Business Forum held in Sri Lanka, where he outlined the government’s efforts to create an investor-friendly environment.
Addressing the forum, the President highlighted the reforms implemented to strengthen the investment landscape in the Maldives. He noted that as the two countries approach 60 years of diplomatic relations, the partnership continues to be defined by strong economic ties, innovation, and strategic collaboration.
President Muizzu said the Maldives is currently at a pivotal stage of development, with the government pursuing policies aimed at transforming the country into a developed nation by 2040. He explained that these policies are built on key pillars, including human capital development, technological advancement, and environmental sustainability.
The President also noted that the government has introduced significant legal reforms to support investment, including overhauling the 40-year-old Foreign Investment Law and updating foreign investment requirements to provide greater clarity for investors. He added that while measures are being taken to protect established local businesses, the government is also opening new opportunities for foreign expertise and technology in priority sectors of national development.
President Muizzu stressed that efforts to modernise laws and strengthen institutions are contributing to the development of a transparent and globally competitive economy.
He said these reforms are already delivering results, creating an environment where investors can operate with confidence and where new investments can grow. Highlighting growing international confidence, the President referred to the “Dhivara” project by Google as an example of increasing trust among major global corporations in the Maldivian economy. He further noted that while the Maldives continues to attract foreign investment, Maldivian businesses are also seeking opportunities to invest abroad. Given Sri Lanka’s role as a key partner, he said a strong bilateral investment environment would benefit both countries.
In conclusion, President Muizzu invited Sri Lankan businesses, as well as international companies based in Sri Lanka, to explore and undertake sustainable investment opportunities in the Maldives.