The growth of the private sector remains vital to the Maldives realising its vision to be a developed nation by the year 2040, the Minister of Economic Development and Trade, Mohamed Saeed has said.
Speaking during the opening ceremony of the Maldives-Malaysia Business Forum 2025 as part of President Dr Mohamed Muizzu’s ongoing official visit to Malaysia, Minister Saeed said the hosting of the forum is testament to the ever expanding trade and investment relations between the two countries.
He added that this forum would offer a pathway for private businesses to seek out investment and trade opportunities in the two countries.
The Minister also pointed out that Maldives is currently in a good position in terms of development and progress, adding that the incumbent government was working under a special roadmap to realise President Dr Muizzu’s vision to transform the Maldives into a developed nation by the year 2040.
He insisted that the growth and progress of the private sector remains critical to realising that vision.
Minister Saeed also alluded to the recently passed foreign investment law, which he said will provide the required legal protection to foreign investors while allowing them to do business transparently and contribute to the growth of Maldives’ economy.
"The investment forum will enable investors from both countries to meet and strengthen trade relations. It will also pave the way for future economic cooperation,” he added.
Speaking during the ceremony, the Minister of Investment, Trade and Industry of Malaysia, Tengku Zafrul Aziz noted the multitude of opportunities that the forum will open up for the business community of both countries.
Minister Tengku said trade between Maldives and Malaysia has increased by four percent in 2024 compared to the previous year, adding that this forum will pave the way for enhanced trade exchanges.
"Malaysia is one of the leading countries in the halal industry in the world. There are opportunities for Maldivian investors in the field of Halal food production and sales. We are also seeing Malaysian brands opening up in the Maldives,” he added.