The Government has announced major incentives for small and medium-sized enterprises (SMEs) over the next two years, highlighting President Dr Mohamed Muizzu’s focus on developing the sector. The initiative aims to address challenges faced by SMEs and support their growth across key areas of the national economy.

Minister of Economic Development and Trade, Mohamed Saeed, made the announcement during a press conference on Thursday. He said President Dr Muizzu met with SME representatives to discuss their concerns and is working with relevant authorities to implement solutions. The incentives will address issues raised by businesses, including difficulties in importing goods from abroad.

The programme will also include measures to streamline operations, such as extending the time allowed for clearing goods at the airport, to ease logistical challenges for SMEs. The initiative reflects the Government’s commitment to supporting start-ups and small businesses, providing them with the resources and flexibility needed for sustainable growth.

The two-year incentive period has been designated to provide targeted support, remove operational barriers, and strengthen the role of SMEs in driving the national economy.