President says laws may be amended to address business concerns
During the meeting, several business owners raised concerns over losses resulting from non-payment by government-owned companies.
President Mohamed Muizzu on Wednesday said the government would address concerns raised by business owners, including through amendments to laws and regulations where required.
The president made the remarks after meeting representatives of small and medium enterprises at the Social Centre. He said he had listened to the issues raised and would work towards solutions within the legal framework.
“We will bring solutions that are possible, even if it requires changes to laws and regulations,” he said.
Muizzu said the government’s role was to resolve existing problems and improve current systems. He added that work was under way to shape policies aimed at supporting entrepreneurs.
During the meeting, several business owners raised concerns over losses resulting from non-payment by government-owned companies. They also called for relief from tax obligations in situations where businesses generate no income.
Responding to the issue, the president said the matter would be addressed through regulatory measures. He said discussions would be held with the Maldives Inland Revenue Authority and the Ministry of Finance to identify options that are permitted under the law.
“I cannot state an amount at this time, but there will be a solution. Payments will be made,” he said.
The president said funds would be released to several businesses before the end of the month and that all outstanding bills would be settled by the month of Ramadan.
“When these bills are cleared, both outstanding payments to the state and tax-related issues will be resolved,” he said.
Muizzu also addressed a range of additional issues raised by business owners. He said the government would review quota fees, resolve issues related to vehicles imported for business use, and extend demurrage-free parking at airports and seaports from 80 hours to 124 hours.
He said goods clearance procedures would move to a 24-hour system and that challenges faced by businesses renting rooms to Maldivians would be reviewed. The president also said steps would be taken to address difficulties in obtaining warehouse space and land for rent for small and medium enterprises.
