A high-level delegation from Saudi Arabia, led by Deputy Minister of Investment for Foreign Relations, Sarah Al-Sayed, has arrived in the Maldives to initiate critical discussions aimed at significantly boosting economic and investment cooperation between the two nations.
The visiting delegation is extensive, comprising several senior government officials alongside key representatives from the Saudi private sector, signaling a deepened commitment to exploring Maldivian economic sectors.
The Embassy of Saudi Arabia in Male’ confirmed the Deputy Minister's visit is focused squarely on identifying and realising diverse investment opportunities.
The visit builds upon a robust diplomatic relationship first established in 1981, and follows the signing of a Memorandum of Understanding (MOU) last year designed to strengthen bilateral economic and trade relations.
Saudi Arabia is already a major contributor to Maldivian infrastructure and development, primarily through the Saudi Fund for Development (SFD). To date, the SFD has provided over USD 470 million in assistance across vital sectors, including transportation, health, housing, and fisheries. This financing package included a substantial USD 100 million commitment specifically earmarked for the construction of the new passenger terminal at Velana International Airport (VIA).
With numerous Saudi companies having previously expressed strong interest in actively investing in the island nation, the current high-profile discussions has the potential formalise new commercial ventures beyond traditional aid structures.