Minister of Economic Development and Trade Mohamed Saeed has announced that the next two years will include special Government concessions for small and medium enterprises (SMEs).

The Minister made the announcement in a post shared on X, following President Dr Mohamed Muizzu’s statement earlier on the same day that the Government will introduce special measures over the next two years to support the development of SMEs.

Minister Saeed said that, under the President’s decision, 2026 and 2027 will be designated as two years of special concessions for small businesses. He described the move as a significant relief for existing SMEs as well as new entrepreneurs entering the sector.

He added that the Government will continue to announce further changes and additional relief measures in the coming days to facilitate and strengthen small business operations.

The President’s announcement followed a meeting held with the SME business community on 17 December 2025, during which entrepreneurs raised a number of concerns directly with the President. At the meeting, President Dr Muizzu assured that the issues raised would be addressed within the applicable legal framework.