Since taking office on November 17, 2023, President Dr. Mohamed Muizzu has earned the title of “People’s President” by implementing policies to strengthen national sovereignty, boost economic resilience, advance climate action, and bring the government closer to the public.
Upholding and Advancing National Sovereignty and Foreign Policy
- Ordered the withdrawal of all foreign troops by May 10, 2024.
- Cancelled undisclosed security agreements made by previous administrations to safeguard Maldives’ independent decision-making.
- Made his first state visit to Turkey in November 2023, signing a trade and economic cooperation agreement to open new export markets.
- Strengthened strategic ties with China through high-level visits, paving the way for infrastructure and investment projects.
Economic Reform and Diversification
- A new foreign investment law passed by parliament streamlined permit processes and enhanced investor protection.
- Launched a digital Launched a digital transformation program using automation and e-governance, expanding high-speed internet to remote islands.
- Set a target of over 2 million tourist arrivals for 2024, expediting the expansion of Velana International Airport to meet growing demand.
- Introduced micro-credit schemes with low interest rates for women, youth, and small businesses, facilitating expansion in fisheries, agriculture, and technology startups.
Economic Independence through Foreign Exchange Reform
In December 2024, President Muizzu ratified the Foreign Exchange Bill. This law requires tourism businesses to convert a portion of their USD earnings to Maldivian Rufiyaa at licensed banks. The reform aims to capture more of the estimated $4.5 billion annual foreign exchange inflow and boost official reserves.
- Category A resorts must convert $500 per tourist or 20% of monthly revenue.
- Category B guesthouses, liveaboards, and hotels must convert $25 per tourist or 20% of foreign currency revenue.
Despite opposition from some operators, President Muizzu defended the policy as crucial for:
- Alleviating dollar shortages in the official market and curbing black market rates.
- Increasing foreign currency availability at official rates for state companies and small businesses.
- Enabling increased travel allowances (up to $1,000) and credit card limits for public servants as a benefit by 2026.
Climate Leadership and Renewable Energy
He strengthened Maldives’ voice in global climate finance by co-chairing international consultations to create the SIDS Program of Action. He committed to generating 33% of national electricity from renewable sources by 2028, launching pilot floating solar farm projects. He announced the Ras Male Eco-City project featuring green buildings, waste-to-energy systems, and sustainable urban infrastructure.
Strengthening Democracy and Governance
Expanded the cabinet to 22 ministers, creating two new ministries – Ministry of Agriculture and Animal Welfare, and Ministry of Cities, Local Government and Public Works – to improve services. Reappointed three ministers initially rejected by parliament, reinforcing the principle of separation of powers. Initiated anti-corruption investigations into previous undisclosed agreements to increase transparency and accountability.
Direct Engagement with Citizens
Instituted town hall meetings in islands, giving communities direct opportunities opportunities to voice concerns and influence local projects. Personally visited homes in Male’ to oversee and coordinate drainage system upgrades, public space renovations, and affordable housing initiatives.
Through these targeted reforms – from capturing tourism dollars for national benefit to safeguarding sovereignty and connecting with citizens – President Muizzu has solidified his reputation as the “People’s President” and delivered impactful results for the island nation.
