President Dr Mohamed Muizzu has welcomed growing interest from Malaysia’s Sunway Group in exploring investment opportunities in the Maldives.
During a meeting between President Muizzu and the Founder and Chairman of Malaysia’s Sunway Group, Tan Sri Sir Dr Jeffrey Cheah, held as part of the President’s official visit to Malaysia, Tan Sri Sir Dr Jeffrey Cheah expressed the group’s intent to visit the country and assess potential partnerships in tourism, education, healthcare, and renewable energy.
While the discussions focused on exploring potential areas of collaboration between the Maldives and Sunway Group, President Dr Muizzu highlighted the importance of on-the-job training and noted the potential for collaboration with the Maldives National University. He also emphasised the country’s readiness for foreign investment, particularly in priority sectors.
During the meeting, Dr Jeffrey Cheah provided an overview of Sunway Group’s operations and areas of expertise. The Sunway delegation inquired about the investment climate in the Maldives, including procedures for foreign investors, taxation policies, visa facilitation, currency usage, and other relevant matters. They also expressed interest in visiting the Maldives to further assess investment opportunities.
Ministers present at the meeting shared detailed insights into the Maldives’ economic landscape, highlighting major initiatives such as the Ras Malé project and developments within the country’s Special Economic Zones. They also discussed the government’s digital transformation efforts and reaffirmed the President’s vision of transitioning to 33 percent renewable energy, sharing progress on ongoing solar energy projects. Ministers also highlighted that the Maldives Foreign Investment Act effective since December last year provides the security conducive for businesses to thrive and investments to accrue sustainable returns.
The meeting concluded with both the President and Founder and Chairman of Sunway Group expressing mutual optimism and goodwill.