Developing small island states should no longer be viewed solely as countries vulnerable to climate change, but instead as sources of innovation and business opportunities, President Dr Mohamed Muizzu has said.
The President made the remarks while delivering his address at the opening ceremony of the SIDS Global Business Network Forum, being held in the Maldives.
President Muizzu said discussions surrounding small island states have traditionally focused on their environmental vulnerabilities. However, he noted that this represents only one aspect of these countries, which can transform the challenges they face into opportunities, turn obstacles into innovative ideas, and bridge the distances between islands.
Highlighting the resilience of small island states, the President said their small size itself can be turned into an advantage. He said such countries can become laboratories for testing technologies, solutions, ideas and innovations.
The President also highlighted the strong links between SIDS today and the economic foundations that support trade, financial services, tourism and manufacturing. He noted that, under the Maldives 2.0 agenda, the Maldives is making use of technology to overcome challenges arising from the country's geography and small size.
President Muizzu also noted that financial assistance is being provided to young entrepreneurs and start-ups, with particular attention given to women-led businesses. He further highlighted the recently modernised Foreign Investment Act and plans to establish a Trade Acceleration Zone in 2027, as well as strategic efforts to expand the logistics and floating solar sectors.
In his address, the President also called on the United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) to develop the Global Business Network as a central platform connecting the aspirations and ideas of island states with businesses, financial support, technology, partners and markets.