President Dr Mohamed Muizzu has announced a suite of new measures dedicated to the development of small and medium enterprises (SMEs), set to take effect from January 2026.
The announcement was made via a social media post detailing the outcomes of recent high-level government discussions.
The government's intensified focus on SMEs follows a pivotal meeting on 17 December, where the President convened with a large number of local business owners. The forum provided a platform for entrepreneurs to voice the administrative and developmental challenges hindering their growth.
In direct response to these concerns, this week’s Cabinet meeting resulted in several key decisions. President Muizzu declared that the next two years will be dedicated to implementing special measures to promote the sector, shaped by the issues raised by the business community. While full details are to be released by relevant agencies, the President confirmed the January implementation timeline.
Demonstrating a commitment to immediate action, the government has already enacted changes to ease import logistics. Upon recommendation from the meeting, the demurrage period for imported goods has been extended from 80 to 124 hours, and 24-hour customs clearance has been arranged, a reform already implemented by the Maldives Customs Service.
This initiative builds on existing governmental efforts to empower SMEs, including the introduction of the Trademark Act and the Intellectual Property Protection Act. Additionally, a partnership with the global e-commerce platform Alibaba, facilitated through ‘Authentic Maldives,’ has already granted around 400 local businesses access to international markets. The government also highlighted the success of this year's record-breaking national productivity exhibition, underscoring its strategy to forge both domestic and foreign market opportunities for Maldivian entrepreneurs.