Minister of Economic Development and Trade Mohamed Saeed has expressed confidence that the Government’s efforts to strengthen small and medium enterprises (SMEs) will usher in a new golden age for businesses in the Maldives.

Speaking on the second episode of the ‘Tharujamaanaa Eku’ programme with the Chief Spokesperson of the President’s Office, Heena Waleed, Saeed said President Dr Mohamed Muizzu has instructed authorities to find solutions to long-standing warehousing challenges faced by traders.

He said consultations are underway with relevant Government agencies to establish warehouse facilities dedicated to small and medium enterprises in Addu City, Khulhudhuffushi City and Malé area.

Saeed noted that the SME sector has long suffered from confusion and structural weaknesses, adding that the Government has now begun addressing these issues. He said negligence by the previous administration had resulted in small businesses completing work for the State without receiving payment, causing serious financial harm.

The Minister said the Government is currently working to settle outstanding payments owed to SMEs that undertook various projects.

He added that since assuming office, President Dr Muizzu has prioritised resolving such systemic issues. Saeed highlighted the introduction of a mechanism to ensure fishermen receive payment within 48 hours, noting that this system is recognised by all institutions and allows fishermen to access bank financing.

In addition, he said arrangements have been made for the wholesale purchase of farmers’ produce through the State Trading Organization (STO). Following Cabinet consultations, a nationwide logistics network is also planned through Maldives Ports Limited (MPL), covering regional harbours except major city ports.

Saeed said the President has designated this year and next year as a period of special focus for SMEs, with increased incentives and priority support aimed at accelerating growth. He expressed confidence that the coming period will mark a golden age for SMEs.

President Dr Muizzu met with SME community in December 2025 to hear their concerns directly. The Government has since begun taking steps to address the issues raised during those discussions. The President has also declared 2026 and 2027 as years of special concessions for small and medium enterprises.