The Minister of Economic Development, Transport and Trade, Mohamed Saeed has outlined the government’s strategy to transform the Maldives into a competitive investment hub in the Indian Ocean.
In a business webinar hosted by the Embassy of Maldives in Japan, Minister Saeed emphasised the long‑standing friendship between Maldives and Japan, noting that Japan’s expertise has long supported the archipelago’s economy and urged Maldivian entrepreneurs to adopt Japanese business practices to boost productivity and innovation.
Minister Saeed highlighted the newly enacted Foreign Investment Act as a cornerstone of the reform agenda, describing it as a transparent, reliable and fast system that will simplify procedures for setting up and expanding enterprises.
“Our vision is to build an open and competitive investment environment,” he said, adding that the legislation is designed to give investors the confidence needed to pursue long‑term projects.
While tourism remains the backbone of the Maldivian economy, the Minister highlighted a broadening of opportunities across renewable energy, maritime and logistics services, fisheries and food production, the digital economy, financial services, sustainable infrastructure, healthcare and manufacturing. He stressed that diversifying these sectors is essential for economic sustainability amid the nation’s geographic constraints of over 1,000 islands.
The Minister concluded by inviting Japanese firms to deepen partnerships, noting that Japan’s track record of successful, long‑term collaborations offers a valuable model for Maldivian businesses seeking to overcome logistical challenges and tap into emerging markets.