Yameen questions effectiveness of overseas investor forums

Former President Abdulla Yameen has said foreign investors are unlikely to support the Maldivian government’s economic policies, despite the administration’s efforts to attract investment through international forums.

Yameen made the remarks while speaking at a People’s National Front (PNF) rally on Thursday night. His comments follow President Mohamed Muizzu’s recent investor forum in Singapore, which was part of his first state visit to the country. Earlier, similar forums were held in Dubai and other locations.

Yameen said foreign investors would assess the actual economic and policy environment in the Maldives rather than rely solely on official presentations. He specifically noted that Singapore-based investors have a detailed understanding of the investment conditions in the Maldives.

“Singapore is very familiar with the Maldives’ investment environment. If someone goes there and tells investors to come, they won’t come here just based on that,” he said.

He added that the Maldives must first address domestic economic challenges before seeking international investment. According to Yameen, the current state of the economy is not conducive to attracting foreign capital.

“The Maldives is not in a position to attract investment. Unless we improve our internal affairs and stabilise the economy, these forums abroad will not yield results,” he said.

Yameen also criticised the government's broader fiscal policies, stating that they do not inspire confidence among international investors.

“Our system is in a critical state. While the system is still in the ICU, they are asking investors to come in and build on it. That approach is not viable,” he said.

He further cited the country’s fiscal deficit and foreign debt levels as reasons for investor reluctance, claiming there is no substantial support for the government’s current economic direction among foreign stakeholders.