President Dr Mohamed Muizzu has said the Government will bring transformative change to the Maldivian economy through inclusive development.
The President made the remarks while addressing the opening ceremony of the SIDS Global Business Network (GBN) Forum 2026 as chief guest.
President Dr Muizzu said that despite the Maldives being a small country, the Government continues to undertake significant efforts to create opportunities for Maldivian businesses on the international stage. He said Small Island Developing States (SIDS) continue to turn the challenges they face into opportunities for development.
Against this backdrop, the President described micro, small and medium-sized enterprises (MSMEs) as the engines of the economies of such countries. He stressed the need to create an environment where their ideas can develop and provide them with opportunities to access international markets.
To support their growth, President Dr Muizzu said the Government is working to turn sustainable ideas into reality by formulating policies that support business development and establishing the necessary financial support and infrastructure.
“Finance is only one part of this ecosystem. Entrepreneurs also need the tools and networks required to innovate, provide services and develop their businesses,” the President said.
He said the Government is working to improve access to finance, strengthen digital tools, facilitate investment and remove barriers facing local businesses. These efforts aim to create an environment where businesses can start, grow and invest across a wider range of sectors.
The President also highlighted platforms such as Maldives Expo, which provide opportunities to showcase innovation and the ideas and capabilities of entrepreneurs. He said such platforms also give Maldivian innovators opportunities to reach international markets.
Alongside these efforts, President Dr Muizzu highlighted the introduction of Maldivian digital wallets, the expansion of digital payment solutions and agreements with various international business platforms, saying these measures are creating more opportunities for Maldivian businesses.
The President said the Government’s Maldives 2.0 agenda would further create opportunities to overcome challenges faced by countries such as the Maldives. He noted that new investments in digital infrastructure are already expanding opportunities in the country.
President Dr Muizzu said these efforts would ultimately deliver inclusive development and bring transformative change to the Maldivian economy.
SIDS Global Business Network Forum begins in Maldives
The SIDS Global Business Network Forum 2026, where President Dr Muizzu delivered his remarks, will continue from 23 to 25 August at Barceló Nasandhura Malé. The forum focuses on business and economic development across Small Island Developing States.
It brings together businesses, civil society organisations, donor countries and organisations, researchers and other relevant stakeholders to increase the participation of different sectors in the development of Small Island Developing States.
Through the forum, participants will exchange views and share experiences on overcoming challenges to business and economic development in Small Island Developing States, as well as challenges to sustaining investment in these countries. A Small Island Developing State hosts the forum every two years.
This year, representatives of governments from more than 30 countries will join micro-, small and medium-sized enterprises (MSMEs), business associations, investors, civil society organisations, and academic and research institutions at the forum. More than 200 participants will take part.
The programme includes five panel discussions, an MSME marketplace, investment showcases and networking opportunities. The marketplace will showcase the work and products of 15 participants representing MSMEs, governments and aid providers from Small Island Developing States.
This year's event also marks 10 years since the Global Business Network Forum began. It is the first forum in the series since Small Island Developing States adopted the 10-year development framework, the Antigua and Barbuda Agenda for Small Island Developing States (ABAS), at their fourth international conference in Antigua and Barbuda in 2024.
The Government said hosting the forum would renew the Maldives' longstanding leading role in bringing the vulnerabilities faced by Small Island Developing States to global attention and strengthen the country's voice on these issues internationally. The forum would also allow the Maldives to share its development achievements with other countries and present itself as a model of successful development for Small Island Developing States.
The Maldives is hosting this year's forum following an initiative led by President Dr Mohamed Muizzu at the fourth SIDS conference in 2024. At the conference, he called for stronger relations among Small Island Developing States and greater efforts to secure the financial resources required for sustainable development, particularly development financing.
President Dr Muizzu also served as a vice president of the conference and chaired plenary sessions. The Maldives participated in several panels, hosted high-level events on the sidelines of the conference, and served as a co-chair of its preparatory committee.