President Dr Mohamed Muizzu affirmed the Government's aim to promote small and medium enterprises in the Maldives.
The President made these remarks this morning whilst delivering the Presidential Address at the first sitting of the first session of the 20th People's Majlis for the year.
In his address, the President announced the Government’s decision to designate a specific area for a fixed period, with significant regulatory ease, to further advance and develop SMEs. He emphasised that the Government aims to elevate Maldivian innovation by building upon initiatives implemented in 2025 and by fully utilising the facilities already established, along with measures planned for this year. He further stated that the long-term national objective is to see the Maldives included among developed countries by 2040.
The President also assured that the relocation of the commercial harbour to Thilafushi would be completed and opened by 11 November 2027. He expressed confidence that once operational, unloading times for cargo vessels would be reduced from up to seven days to within 48 hours. This, he noted, would resolve the challenges faced by the public due to the need to store goods in Malé.
Highlighting economic indicators, the President stated that since last year, the number of staple food items have been increased to 23 varieties, with measures in place to ensure that essential commodities remain affordable. He added that these items are being supplied at State Trading Organisation (STO) rates to islands with populations exceeding 3,000 through STO agents.
Furthermore, the President noted that these staple food items are being imported via STO to Kulhudhuffushi and Addu City to ensure access to basic food items at lower prices. He also stated that STO has opened an outlet in the Malé harbour area, and that a new outlet will be established in Hulhumalé before the start of Ramadan.
Additionally, the President mentioned that a duty-free cargo area was established at Kulhudhuffushi Harbour in August 2025, and confirmed that a similar duty-free zone will be established in Addu City this February.