Investment opportunities worth USD 680 million have been confirmed for the Maldives Special Economic Zone (SEZ), according to Minister of Economic Development and Trade Mohamed Saeed.

Speaking at the Maldives–Singapore Business Forum in Singapore today, the Minister said the Government aims to attract USD 1 billion in SEZ investments over the next five years, as part of its strategy to diversify the economy and reduce reliance on tourism.

He said several development projects within the SEZ have already been opened to investors, including a major renewable energy initiative that has received Government approval.

The confirmed portfolio, he said, marks a significant milestone and reflects growing investor confidence in both the SEZ and the Administration’s broader economic agenda. Current projects span multiple sectors, offering substantial opportunities for foreign partners.

He further emphasised the role of investment as a driver of sustainable and inclusive growth, aligning with President Dr Mohamed Muizzu’s Vision 2040. Minister Saeed said the Government’s development priorities are designed to ensure broad-based benefits for Maldivians, while fostering long-term resilience and competitiveness.

Addressing bilateral ties, the Minister credited Singaporean business leaders and Singapore Airlines for playing a vital role in the evolution of Maldivian tourism.

He concluded by saying both countries demonstrate how small nations can achieve meaningful economic growth through strong international partnerships.