The administration of President Dr Mohamed Muizzu has formally recognised the central role of small businesses in the national economy, Minister of Economic Development and Trade Mohamed Saeed has said, signalling a new policy trajectory aimed at fostering entrepreneurship and initiating a 'creative economy' for the first time in the country's history. The commitment was reaffirmed by Minister Saeed in a statement marking the eighth anniversary of the Business Center Corporation (BCC).
Writing on social media to commemorate the milestone, Minister Saeed reflected on the corporation's progress, stating that the BCC, established to bolster small and medium-sized enterprises (SMEs), has effectively fulfilled its founding mandate over the past eight years.
"This milestone reminds us that achieving this bold national vision requires ongoing collaboration, commitment, and innovation across institutions, offering an opportunity to deepen partnerships, foster innovation, and build a resilient enabling ecosystem that ensures institutions like BCC remain key drivers of inclusive and sustainable economic growth," Minister Saeed stated.
He pointed to the growing momentum within the Maldives' entrepreneurial sector, noting the significance of sustaining emerging ventures in a climate increasingly shaped by youth-led innovation. "In a country fuelled by an energetic entrepreneurial spirit and a young generation eager to lead diverse startup models, building and sustaining a holistic ecosystem is both timely and essential," he noted.
The prioritisation of SMEs aligns directly with the president's manifesto, as Minister Saeed detailed the administration's measures to advance small businesses and structure a government-backed creative economy. He identified the current strategy as an unprecedented step in national policy. "This is the first time the sector has been mainstreamed as central government policy since His Excellency assumed office on 17th November 2023," he said.
Integral to this effort is the BCC, which assists entrepreneurs in launching and scaling their ventures while promoting locally produced goods. Minister Saeed underscored the importance of coordinated action among commercial stakeholders to support the creative economy initiative, describing the BCC as a strategic partner.
The corporation responded positively to the government's stance, citing it as a strong endorsement of its mission. Across the broader landscape, the administration seeks to harness the country's entrepreneurial energy and youthful ambition to propel economic diversification and inclusive development.