India investor aid vital for Maldives' development, Zameer says
A detailed plan has been developed to fortify the government’s finances, Zameer shared, outlining several key initiatives.
Finance minister Moosa Zameer on Tuesday emphasised the importance of Indian business support in achieving President Mohamed Muizzu's development goals.
During his address at the Invest Maldives Forum in Mumbai, Zameer, who recently transitioned to the role of finance minister after serving as the foreign minister, highlighted the crucial role that Indian businesses can play in advancing Maldives' economic agenda.
"We greatly value the contributions of Indian businesses to the economic growth of Maldives. I believe there is significant potential to further strengthen trade relations between our two countries," Zameer said.
He made these remarks in the context of President Muizzu's development vision, which includes strategies aimed at enhancing Maldives' economic stability and growth. Zameer explained that the president’s agenda includes measures to boost the country's productivity and streamline its financial systems.
A detailed plan has been developed to fortify the government’s finances, Zameer shared, outlining several key initiatives:
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Debt management: Efforts are underway to ensure sustainable debt repayment and to minimise the impact of economic shocks on the country.
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Strengthening the financial system: Recent measures, including increased foreign exchange rules and efforts to bolster foreign exchange reserves, have been implemented to reinforce the financial system.
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Encouraging private investment: Expanding and promoting private business investments is a priority, alongside making adjustments to subsidies.
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Fiscal reforms: The government is focusing on reforms in expenditure and revenue to strengthen its fiscal policies.
Zameer also highlighted opportunities for Indian investors in Maldives, particularly in the green economy sector, encouraging them to explore investment prospects in the country.
