The Minister of Economic Development and Trade, Mohamed Saeed, has stated that the growth of private businesses is important for the Maldives to be included in the list of developed countries. The Minister said this while speaking at the opening ceremony of the Maldives-Malaysia Investment Forum. Speaking at this ceremony, the Minister of Economic Development and Trade, Mohamed Saeed, said that holding a Maldivian investment forum in Malaysia is evidence of strengthening business ties between the two countries. The Minister also said that this would facilitate information about investment opportunities in both countries for businesspeople from both nations.
Saeed said that the Maldives is currently in a favorable position for development and progress. The Minister also said that under the visionary leadership of President Dr. Mohamed Muizzu, work is being done according to a special roadmap to include the Maldives in the list of developed countries before the year 2040. The Minister also emphasized that the growth of private businesses is very important to achieve this goal.
The Minister said that a special law has now been formulated to promote private businesses and make the Maldives favorable for foreign investors. As such, with the Foreign Investment Law that has now been formulated, Minister Saeed noted that foreign investors will receive legal protection, be able to conduct business transparently, and have the opportunity to play a role in advancing the Maldivian economy. “The Investment Forum will allow investors from both countries to meet, strengthening business relationships. And it will pave the way for economic cooperation and advancement in the future,” the Minister said.
Speaking at the ceremony to launch this forum, Malaysia’s Minister of Investment, Trade and Industry, Tengku Zafrul Abdulaziz, characterized this as a forum that will further strengthen the relationship between the two countries in the business sector. Tengku said that business transactions between the Maldives and Malaysia increased by 4 percent in 2024 compared to the previous year. In addition, the Malaysian Minister of Investment said that with this forum, business transactions will increase further, and it will also facilitate businesspeople from both countries to identify business opportunities in the other country.
“Malaysia is one of the leading countries in the world in the halal industry. There are opportunities for Maldivian investors in Malaysia in the field of producing and selling food within Islamic principles. And we are also seeing various Malaysian brands opening in the Maldives,” Tengku said.
President Dr. Mohamed Muizzu and a delegation of senior Maldivian government officials are currently on an official visit to Malaysia. While the Maldives-Malaysia Investment Forum has now begun as part of this visit, important agreements have already been signed to strengthen relations in various fields.
