The Ministry of Finance and Planning has announced that policies governing public procurement will be amended to give priority to small and medium-sized enterprises (SMEs) when bidding for State projects. 

According to the Ministry, the upcoming amendments will introduce a system in which tenders below a designated monetary value will be reserved exclusively for SMEs. Work is currently underway to revise procurement laws, regulations and internal procedures to make the State tendering process more accessible and competitive for smaller businesses. The Ministry noted that the changes are intended to reduce barriers that previously limited SME participation.

The Ministry also stated that it is examining options to streamline outstanding tax settlements for SMEs, in coordination with the Maldives Inland Revenue Authority (MIRA) and State-owned enterprises. This includes efforts to simplify payment pathways and minimise administrative costs for smaller companies. Discussions are taking place to reduce certain service fees charged by State-owned companies, and to allow payments to be made in Maldivian Rufiyaa to ease financial pressure on businesses.

Additional reforms are being explored to make procurement procedures less burdensome, including measures to simplify documentation requirements and shorten processing timelines. The Ministry said these adjustments are intended to expand economic participation, strengthen local business capacity and support SMEs to diversify the national economy.