Maldives sets SEZ minimum investment at $100 million
The government has officially gazetted a new policy establishing a minimum economic investment of $100 million for projects in Special Economic Zones (SEZs).
President Mohamed Muizzu on Sunday gazetted a new policy establishing a minimum economic investment of $100 million for projects in Special Economic Zones (SEZs).
The announcement outlines the required thresholds for investment in various sectors within the SEZ, setting expectations for both local and international businesses.
The SEZ's minimum investment requirements are structured to promote large-scale, high-impact projects that align with the nation’s long-term growth objectives. Under the new policy, the following criteria have been established:
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A minimum of $100 million must be committed to any economic activity within the SEZ. This figure is intended to encourage large, sustainable investments that can drive substantial economic growth, create jobs, and foster innovation.
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For proposed sustainable township projects, the total investment must not be less than $500 million. These projects are expected to focus on creating environmentally responsible and economically self-sustaining urban areas within the SEZs.
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The government has identified nine priority sectors where investments should be directed. These sectors are crucial for the diversification of the economy and the development of infrastructure.
The list includes:
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Manufacturing Activities: Emphasis will be placed on export-oriented manufacturing industries, which will contribute to enhancing the country’s export capacity and improving its competitive edge.
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Logistics and Transportation: This includes transshipment ports, international logistics services, airports, bulk breaking, bunkering, and docking services—all vital for enhancing the Maldives' position as a regional trade hub.
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Healthcare and Education: Investment in world-class universities, tertiary hospitals, specialty healthcare facilities, and research and development centers will improve the nation's knowledge base and health infrastructure.
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Information and Communication Technology (ICT): A world-class ICT park and associated facilities are aimed at making the Maldives a leading player in the global technology sector.
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International Financial Services and Trade: The SEZ will also promote international financial services and trade centers, creating a favorable environment for global business operations.
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Renewable Energy: Projects focusing on renewable energy are expected to reduce the country’s dependence on non-renewable sources while supporting sustainable development goals.
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Technology Innovation: The SEZ is designed to attract cutting-edge technologies not currently available in the Maldives, helping the country leapfrog into the future.
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Food Security: Investments in the food security sector will ensure a stable, self-sufficient food supply, safeguarding against global supply chain disruptions.
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Gas Exploration: Activities related to gas exploration are also encouraged to bolster the country’s energy security and enhance its resource base.
In a further effort to encourage balanced and sustainable growth, the policy requires that township development projects invest a minimum of $500 million into components that focus on sustainability. These developments are expected to incorporate modern, environmentally friendly technologies, while fostering community well-being and improving the overall living standards in the SEZ areas.
