President Dr Mohamed Muizzu has expanded the list of permitted activities in the Special Economic Zone (SEZ) to include fuel and mineral exploration.
The change was announced Tuesday through a resolution published in the Gazette. Last year’s resolution allowed only gas exploration, but the updated directive now authorises fuel and mineral exploration as well.
Under the new resolution, SEZ‑eligible economic activities are defined as sustainable township development projects with a minimum investment of USD 100 million, and large‑scale projects with investments of at least USD 500 million.
Permitted investment sectors include:  
Export‑oriented manufacturing  
Transshipment ports, international logistics, ports and airports  
Bulk breaking, bunkering and docking services  
Universities, tertiary hospitals, specialty hospitals and world‑class R&D facilities  
ICT parks and ICT‑related infrastructure  
International financial services and trade centres  
Renewable energy projects  
Introduction of technologies not currently available in the Maldives  
Food security initiatives  
Fuel, gas and mineral exploration activities  
For sustainable township development projects, the minimum USD 500 million investment must be allocated specifically to township components.
The minimum investment threshold for SEZ projects was previously USD 150 million during former President Abdulla Yameen Abdul Gayoom’s administration. In 2023, the threshold was reduced to USD 100 million through a presidential decree.
The first SEZ permit issued under the current administration was granted to Canada’s Abraxas Power Corp., which is developing a floating solar system to supply electricity to the Male' region. The project is being implemented in partnership with China’s Sungrow Power Supply Co. Ltd., according to the Economic Ministry.