Dr Mohamed Waheed Hassan, former president and currently serving as special envoy to President Dr Mohamed Muizzu, addressed the Maldives Tourism and Investment Forum in New York, United States, on Tuesday, outlining the island nation's long-term development trajectory and advancing a compelling case for international investment.
He spoke before an audience of global investors and tourism industry leaders, describing how the Maldives, once constrained by geographic isolation and limited resources, had transformed itself into one of the world's most recognisable travel destinations. Recalling the period following the 2008 global financial crisis, President Waheed noted that international institutions had categorised the Maldives as highly vulnerable to external shocks. That forecast, he observed, had been overturned by the nation's rapid economic recovery from the Covid-19 pandemic, an outcome he credited not to chance, but to collective resolve and a focused national vision.
That forward momentum, he said, underpins 'Vision 2040', a development agenda introduced by President Muizzu that aspires to position the Maldives among developed nations by its 75th year of independence. The plan, he elaborated, reflects a shift in national strategy: moving away from economic dependence on a single sector and embracing a diversified, resilient and globally competitive model.
Within that framework, President Waheed highlighted structural reforms aimed at modernising the financial sector. Efforts are under way, he explained, to create the Maldives International Financial Centre supported by updated regulatory frameworks. Parallel efforts, he added, include the development of sustainable urban infrastructure and measures to enhance the fisheries sector through export-led growth.
He pointed to strong macroeconomic indicators, noting that the International Monetary Fund (IMF) projects a 5 percent growth rate for the Maldives this year. Ongoing fiscal reforms, he said, are designed to maintain long-term stability while fostering a transparent and credible investment climate.
Anchoring the broader economic strategy, President Waheed noted the administration's commitment to protecting sovereignty, preserving national dignity and equipping future generations with the means to thrive. These principles, he asserted, form the foundation of one of Asia’s most open and competitive investment landscapes.
He closed his remarks with an appeal for partnership: "If you are looking for a jurisdiction that moves with purpose, that is small but serious, that knows its value and invites you to grow with it, then we are ready to welcome you."