The Maldives attracted 108 foreign investments over the past year, a development the Government attributes to its targeted international outreach and investment-friendly reforms.

Minister of Economic Development and Trade Mohamed Saeed said the figure represents significant progress compared to previous years. He noted that while the previous administration faced challenges such as the COVID-19 pandemic, stronger efforts were needed to attract quality investments. He added that the current reforms and promotional efforts are a push to strengthen the country’s economic position.

Official data shows 206 investments were registered between November 2007 and November 2013, 403 between December 2013 and November 2018, and 398 between December 2018 and November 2023. In contrast, President Dr Mohamed Muizzu’s first year in office has already delivered 108 new investments.

The Government’s strategy includes hosting business forums during each of the President’s official overseas visits. Since December 2023, forums have been held in China, the UAE, India, Malaysia, Singapore, and the United Kingdom, with three events hosted in Indian cities. These forums bring together local and foreign entrepreneurs to explore investment opportunities and Government projects, resulting in a notable rise in inquiries and registrations.

A newly enacted foreign investment policy has also been introduced to safeguard investor interests, establish licensing requirements, and designate investment areas exclusive to Maldivians. The Government says the legislation aims to boost investor confidence and ensure a more secure business environment.