Maldives, Singapore sign agreement on SOE reforms
The collaboration will support the implementation of key programmes in the Maldives by leveraging Singapore’s extensive public sector expertise.
Maldives and Singapore on Tuesday signed a Memorandum of Understanding (MoU) to boost the governance and performance of its State-Owned Enterprises (SOEs).
Finance Minister Moosa Zameer and Tay Lian Chew, Deputy Chief Executive Officer of the Singapore Cooperation Enterprise, signed the MoU during the Maldives–Singapore Business Forum 2025. President Dr Mohamed Muizzu, as part of his state visit to Singapore, also attended the forum.
In a statement, the Finance Ministry said the MoU establishes a robust framework for a strong and lasting partnership between the two parties, focused on effective and mutually beneficial cooperation.
The collaboration will support the implementation of key programmes in the Maldives by leveraging Singapore’s extensive public sector expertise and best practices, the Ministry said.
According to the Ministry, areas of collaboration will focus on the following key areas:
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Strengthening governance and institutional capacity in the management of State-Owned Enterprises (SOEs).
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Establishing robust performance monitoring and evaluation systems, including the development of Key Performance Indicators (KPIs) and accountability mechanisms for SOEs.
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Enhancing financial management, operational efficiency, and the adoption of international corporate best practices within SOEs.
"This MoU marks a major step in deepening Maldives–Singapore cooperation and reaffirms both nations’ commitment to good governance and public sector excellence," the statement read.
