Former Member of Parliament for Kaashidhoo constituency and prominent businessman Abdulla Jabir has stated that several major initiatives aimed at diversifying the Maldivian economy were launched under the current Administration, adding that the next step is to further strengthen and expand those efforts.

Speaking on MMTV’s  Bodu khabaru programme, Jabir said discussions on introducing new industries and business sectors to reduce the country’s dependence on tourism had continued for years, but noted that practical steps towards implementation were initiated under President Dr Mohamed Muizzu.

Jabir pointed to the introduction of bunkering services, the development of a free zone in Addu City and the promotion of concepts such as real estate tourism and sustainable townships as key initiatives aimed at broadening the country’s economic base. He stated that while new sectors may face initial challenges, such projects are expected to continue developing over time.

Referring to developments within the tourism industry, Jabir said the sector has evolved significantly over the years, with resorts now investing heavily in luxury facilities and long-term tourism concepts. He added that international companies are increasingly investing in tourism-related property development projects in the Maldives.

Jabir also described the proposed Development Bank as an important initiative intended to address financing challenges faced by local businesses and resort developers. According to him, the model would help facilitate financing opportunities for businesses that previously struggled to access large-scale funding.

Additionally, he praised Government efforts aimed at expanding services across islands and atolls, while highlighting ongoing initiatives to strengthen the fisheries sector and improve support for fishermen.