Minister of Economic Development and Trade Mohamed Saeed has said that Moody’s decision to revise the Maldives’ credit rating outlook to stable represents a major boost for businesses and investors, strengthening confidence in the economic environment.

Speaking at the Maldives MSME Awards 2025, Minister Saeed said the improved outlook is particularly significant for the private sector, noting that stability in the country’s credit profile provides the assurance businesses need to plan, expand and invest. He added that the Administration has prioritised the development of MSMEs, with 141 training programmes conducted to date and more than 2,500 individuals trained across different sectors.

The Minister also pointed to several initiatives aimed at improving market access and digital infrastructure. These include the Maldives’ free trade agreement with China, Ooredoo’s work to introduce PayPal to the Maldives early next year as part of the President’s manifesto commitments, and the launch of SWIPE, a digital SME platform developed with the support of BML.

Addressing the broader economic situation, Minister Saeed said the Maldives’ financial position had been weak when the current Administration assumed office, with low ratings and limited business confidence. He credited the recent stabilisation, reflected in Moody’s upgraded outlook, to what he described as patient and prudent policy decisions made by President Dr Mohamed Muizzu.

He further noted that the improved credit outlook comes as a relief to small and medium businesses, stating that the shift from a depressed economy to a stable state has strengthened optimism among entrepreneurs. He added that the Business Centre Corporation (BCC) has provided MVR 50 million in support to 400 local businesses through the Authentic Maldives programme over the past two years.

The Minister also highlighted ongoing work to strengthen regulatory frameworks, including the Maldives’ first-time participation in the Berne Convention, which aims to strengthen intellectual property systems and safeguard creators’ rights. An Intellectual Property Office is expected to be established next year.