President Dr Mohamed Muizzu has established the types of economic activities permitted within the Special Economic Zones (SEZ) in the Maldives, as well as the minimum investment thresholds required under the Special Economic Zones Act. The announcement was made through a Presidential Decree.
The decree categorises activities permitted in SEZs into two tiers: Investments within a minimum threshold of USD 100 million, and sustainable township development projects requiring investments of USD 500 or more.
Among strategic investments, the decree defines nine types of investments eligible for the USD 100 million investment category:
a) Export-oriented manufacturing activities
b) Transhipment ports, international logistics, ports, airports, bulk breaking, bunkering and docking services
c) Universities, tertiary hospitals, specialty hospitals, and world-class research and development facilities
d) World-class Information Communication Technology (ICT) parks and related facilities
e) International financial services and international trade centres
f) Renewable energy sector
g) Activities introducing new technologies currently unavailable in the Maldives
h) Food security sector
i) Gas exploration activities
For sustainable township development projects, the decree mandates that the minimum investment of USD 500 million must be allocated specifically to sustainable township development components.