Vice President Hussain Mohamed Latheef has called for action to attract private sector engagement in development efforts. He called for these actions while speaking at the Commonwealth Business Forum: Island Leaders Round Table, ahead of the 2024 Commonwealth Heads of Government Meeting (CHOGM).
Speaking at the forum, Vice President Latheef proposed actions to ensure long-term resilience for Small Island Developing States (SIDS) and foster prosperity for all, by fostering an enabling environment to attract private sector, collaborations centred on sustainability, and efforts to strengthen private sector to better facilitate business-to-business interactions.
In his address, Vice President Latheef shed light on the natural beauty and diverse ecosystems of the Maldives. The vice president stressed the significant challenges the Maldives face due to climate change and the limitations encountered in accessing finance. He, however, affirmed that Maldives will not be defined by its vulnerabilities, underscoring the crucial importance of SIDS being in charge of their own destinies.
Furthermore, Vice President Latheef highlighted President Dr. Mohamed Muizzu's vision for a more resilient and prosperous Maldives, with a vision of transforming into a developed country by 2040. The vice president also noted the efforts to diversify the economy, including new sectors like Information and Communications Technology (ICT), finance, renewable energy, among others. He called on the Commonwealth business community to support the Maldives in the transformative journey towards shared prosperity.
Vice President Latheef is in Samoa on an official visit to attend CHOGM 2024. A high-level government delegation is accompanying him during the visit.