President Ibrahim Mohamed Solih has revealed the Maldives is open for business and ready to welcome investors. He made the remarks delivering the keynote address at the Maldives Investment Forum held at Expo 2020 in Dubai.
Delivering the keynote speech, President Solih stated the government's topmost priorities lie in fostering economic growth through sectoral diversification, environmental sustainability, and the prosperity of the Maldivian societies. The president emphasised that private sector development is a central pillar of the Maldivian government's economic reform agenda. He said that promoting an enabling environment entails removing unnecessary bureaucratic red tape with streamlined procedures to establish businesses, increase access to finance, and ensure greater responsiveness, transparency, immutability, and security for investors. He also indicated the government's immediate and medium-term approach is to build a consolidated response to stimulate innovation, enable digital disruptions, and accelerate people-centred, effective, and resilient public services.
Furthermore, President Solih stated the Maldives is located at the crossroads of the Indian subcontinent, providing a strategic trade conduit between the East and the West. He said the government is taking concrete steps, taking the geographic location into account, to develop the investment climate of the Maldives. The president stated that despite the compact size, the country is leading the way in addressing the climate issue and engaging in boosting renewable energy and pursuing low-carbon development, both of which are top priorities for the government. He also noted the Maldives had embarked on an ambitious goal to attain net-zero carbon emissions by 2030.
Concluding the remarks, President Solih underscored that Maldivians had always relied on the sea for their livelihood and sustenance, and therefore the Blue Economy is a key component of the economic policy framework of the government. He also noted there is much room to collaborate with international experts to accrue mutual benefits of promoting the Blue Economy.