Maldives open to responsible foreign investment, President Muizzu tells Chinese businesses

President Dr Mohamed Muizzu has invited Chinese investors to explore opportunities in 10 sectors of the Maldivian economy, pledging to provide an environment that supports responsible investment and business development.

Speaking at the opening of the China-Maldives Investment Cooperation Forum at Barceló Nasandhura Malé on Wednesday, President Muizzu said economic diversification and partnerships with international investors were essential to achieving the Maldives' development objectives.

He said the country was working towards a new vision for national development and remained open to responsible foreign investment.

The President also highlighted the existing Foreign Investment Act, describing it as legislation designed to maintain investor confidence in the Maldives.

As part of the government's efforts to diversify the economy, he encouraged Chinese businesses to explore investment opportunities in renewable energy, food security, logistics, advanced fisheries processing, digital technology, artificial intelligence, healthcare, financial services, smart infrastructure and sustainable urban development.

President Muizzu noted that Chinese companies had experience in infrastructure development, technology and innovation.

He also referred to Maldives Expo 2026, currently taking place at Hulhumalé Central Park, where Chinese companies are showcasing their products.

The President encouraged Maldivian businesses to use the investment forum to identify commercially viable projects and establish partnerships with Chinese investors.

He said the government was seeking investments not only for their financial returns but also for their contribution to economic development, employment and new business opportunities.

Referring to infrastructure projects undertaken in the Maldives with Chinese assistance, President Muizzu said these developments had contributed to the country's infrastructure, connectivity and essential services.

"These achievements should not be measured solely by the physical structures that can be seen, but also by the improvements they have brought to Maldivian businesses and people's daily lives," he said.

The President added that future development partnerships would be assessed based on the economic value they generate and their contribution to improving living standards.

"As we consider development partnerships in the future, we will look at these standards: sustainable economic value and the development and progress they bring to the lives of ordinary citizens."

President Muizzu also highlighted trade relations between the Maldives and China, describing the implementation of the bilateral Free Trade Agreement as a further step in strengthening economic cooperation.

He said the Maldives imported goods worth USD 440 million from China between January and August last year.

Of that amount, USD 124 million, or more than a quarter of the total, comprised goods imported under the Free Trade Agreement.

The President said economic cooperation between the two countries could extend beyond the value of goods traded.

He identified opportunities to expand Chinese supply chains across different regions of the Maldives and create additional opportunities for Maldivian producers.

President Muizzu also highlighted the introduction of Chinese payment platforms Alipay and WeChat Pay in the Maldives.

He said approximately 73,000 transactions worth USD 11 million had been processed through the platforms between January and September this year.

"This is an arrangement that allows Chinese tourists visiting the Maldives to make payments conveniently while enabling Maldivian businesses to benefit," he said.

The President concluded by encouraging participants at the China-Maldives Investment Cooperation Forum to identify investment opportunities, develop business partnerships and work with Maldivian companies.

He reiterated that the Maldives remained open to investment and would seek to provide an environment in which investors could establish and develop their businesses.