Maldives gets $680 million proposals for Special Economic Zones
Saeed stated that the government aims to attract $1 billion in SEZ investments over the next five years.
Article: The Government of Maldives has received investment proposals totalling $680 million (MVR 10 billion) for projects under its Special Economic Zones (SEZs), according to Economic Minister Mohamed Saeed.
Speaking at the Maldives Investment Forum held in Singapore on Tuesday, Minister Saeed stated that the government aims to attract $1 billion in SEZ investments over the next five years. The minister said this objective aligns with President Mohamed Muizzu’s economic policy.
“With the signing of the Solar City Project agreement today, the total value of proposals received under the SEZ portfolio now exceeds $680 million,” he said.
He added that the current developments mark significant progress towards the government’s $1 billion investment target.
Minister Saeed outlined several economic targets under the government’s development plan, including:
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Increasing GDP to MVR 150 billion by 2028
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Raising per capita productivity to $17,000
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Ensuring that 15 per cent of the country’s manufacturing output by 2030 originates from the creative sector
The minister said these goals are intended to support the diversification of the economy by facilitating the growth of new industries and generating income beyond traditional sectors.
Minister Saeed acknowledged the role of Singaporean companies in the Maldives’ development and encouraged continued cooperation.
“We invite you to continue working together with this track record,” he said.
The minister also noted recent changes to the Foreign Investment Act and stated that the Maldives now offers a more transparent and investor-friendly business environment.
