The government plans to introduce more global digital platforms similar to PayPal for Maldivian youth in the future, Minister of Economic Development, Transport and Trade Mohamed Saeed has said.
He revealed the information at an information session held regarding the launch of PayPal services in the Maldives.
The service was launched in the Maldives on 15 June through a partnership involving the government and Ooredoo Maldives, with the service available via Ooredoo’s m-Faisaa. The inward remittance permit was issued to Ooredoo during 2025.
Minister Saeed said the government is working to transform and modernise the economy, with plans to introduce other popular platforms in the future. He stressed that the Maldives cannot depend solely on tourism for economic growth to achieve higher levels of economic growth.
The minister noted that digitalisation and the development of a digital economy are key government priorities of President Dr Mohamed Muizzu’s government. The government aims for the digital economy to contribute 15 percent of GDP by 2030, he said.
According to Saeed, confidence among major international technology companies in the Maldives has increased.
PayPal will enable online international payments and money transfers, making it easier for Maldivian entrepreneurs and businesses to sell products and services abroad and receive payments. The minister said PayPal’s introduction will help integrate the Maldives more closely into the global digital economy.