Seeking to broaden its economic base, the Maldives on Monday hosted a business forum in Singapore, drawing more than 200 prospective investors and presenting a comprehensive portfolio of development opportunities to international stakeholders.
The Maldives-Singapore Business Forum, convened to mark the 50th anniversary of diplomatic relations between the two nations, was led by President Dr Mohamed Muizzu and attended by several senior Maldivian cabinet ministers. Grace Fu Hai Yien, Singapore's Minister for Sustainability and the Environment, addressed the gathering as guest of honour.
The event was framed as part of a wider strategy by the Muizzu administration to attract foreign capital and reduce the nation's long-standing dependence on tourism. Officials detailed prospective investment avenues across a range of sectors, including special economic zones, fisheries, maritime services, healthcare, renewable energy, and higher education.
Among the marquee initiatives shared with attendees were the Ras Malé urban development and the expansive Gulhifalhu project. Plans to relocate the Malé Commercial Port to Thilafushi were also discussed, alongside strategic bunkering and port infrastructure aimed at strengthening the Maldives' regional maritime position.
Tourism-focused proposals featured prominently in the presentations. These included a plan to establish a world-class theme park, as well as maritime projects such as the Uligamu Yacht Marina and a dedicated harbour for sports fishing.
The healthcare sector was another key area of emphasis. Highlights included the proposed construction of a specialised cancer hospital and a nationwide effort to digitise health services. Opportunities in pharmaceutical manufacturing and tertiary education were also outlined.
A formal ceremony during the event marked the five-decade milestone of Maldives-Singapore relations. President Muizzu personally presented commemorative plaques to selected guests in recognition of the longstanding bilateral partnership.
The Singapore forum extended a pattern of similar initiatives by the government to promote international investment. Recent forums in China, the United Arab Emirates, Malaysia, and India reflect a coordinated effort to elevate the Maldives’ global economic profile.