President says govt brought Google and PayPal to Maldives

President Dr Mohamed Muizzu has said his administration was responsible for bringing Google and PayPal services to the Maldives, describing the partnerships as part of the government's plans to build a digital economy.

PayPal services were launched in the Maldives last week and are currently available through Ooredoo's digital wallet, m-Faisaa.

Speaking on PSM's Nation Chat programme on Thursday, President Muizzu said the government had played a central role in facilitating the launch of PayPal in the Maldives.

The President's remarks come amid criticism from the opposition and some members of the public, who argue that PayPal's entry into the Maldivian market was led by Ooredoo rather than the government.

Responding to the criticism, President Muizzu said developing the digital economy remains one of the administration's priorities.

"Our target, which I have previously announced, is for the digital economy to contribute 15% to the Maldives' GDP by the year 2030," he said.

"To achieve this, it is crucial to establish the presence of such international partners in the Maldives. Google has also now arrived in the country. That too was a highly prioritised effort led by our administration."

The President said discussions with Google began during his visit to the United Nations General Assembly in 2024, where government officials met company representatives.

Addressing claims that the government was taking credit for PayPal's launch, President Muizzu said introducing the service had been one of his election pledges and was included in his manifesto.

He said the government began engaging with PayPal early in its term to identify the regulatory and legal requirements needed to introduce the service in the Maldives.

According to the President, the government spent around a year to 18 months addressing those requirements before PayPal indicated that it needed a local partner to operate in the Maldives.

He said PayPal subsequently selected Ooredoo as its local partner.

"From that point onward, the Government, PayPal, and Ooredoo worked collectively to launch the service," the President said.

President Muizzu added that the launch represented the outcome of the government's work to establish the required regulatory framework and facilitate the service. He also said additional PayPal features are expected to be introduced in the Maldives following the initial rollout.