President Dr Mohamed Muizzu has announced that 205 agreements will be signed with private sector companies on Thursday to advance development projects across the Maldives.

Speaking to residents of Seenu Hithadhoo, Maradhoo, Maradhoo-Feydhoo, and Feydhoo, the President said the agreements cover a wide range of sectors. He noted that 213 agreements in total are being signed with private companies, with eight already signed in Fuvahmulah City and Addu City during his ongoing visit. The President added that the initiative will lead to a boom in the construction industry, in line with the Administration’s goal of strengthening key economic sectors.

The President explained that projects awarded to the private sector require more comprehensive procedures compared to those undertaken by State-Owned Enterprises, but assured that many projects have already been awarded through both channels, with due processes completed.

He also reaffirmed his earlier commitment to settle overdue payments owed to contractors by the previous administration, stating that the Government has already begun making these payments and aims to clear all outstanding amounts by the end of the month.

Highlighting the progress made during his visit, the President noted that several key projects were launched and agreements signed in Addu City. He said that many projects were initiated this year and that the proposed 2026 State Budget allocates significant funding for additional infrastructure projects. He assured that all ongoing and newly signed projects in Addu City will be fully completed.

Emphasising the Government’s commitment to decentralisation, President Dr Muizzu said essential services should not be limited to Malé alone. He pointed to the expansion of passport and ID card services, as well as the introduction of new ATM facilities in various atolls, as part of efforts to ensure all citizens have equal access to public services.

Addressing Addu’s power challenges, the President said the Government has decided to establish a permanent and holistic solution to meet growing demand, including from the airport expansion project. He said a 30-megawatt capacity power project has been approved, with administrative work already underway to upgrade the generator and powerhouse as soon as possible.

The President also stressed the importance of creating jobs in the region, noting that people will only remain in their communities when essential needs such as employment, housing, healthcare, and education are met. He said this was why the Government is developing integrated development zones and urban centres across the country.

In terms of job creation, President Dr Muizzu highlighted tourism as a key sector for economic and employment growth. He cited initiatives such as the Asseyri Tourism project, which includes the development of 600 rooms, the reopening of Shangri-La’s Villingili Resort, and the development of Hankede for tourism as part of the Government’s efforts to expand tourism opportunities in the atoll.