President Dr. Mohamed Muizzu emphasized the importance of digitalization as a fundamental pillar of national development during his address at the “Summit of the Future Side Event: A Vision for an Intelligence Driven Future for Maldives” held yesterday.
In his speech, President Muizzu highlighted that the Maldives has set a strong example in overcoming various challenges by embracing innovative ideas. He stressed that digitalization plays a crucial role not only in achieving economic gains but also in improving the daily lives of citizens. By integrating digital technologies into resource management and public services, the President believes that the Maldives can create an environment where innovation thrives and future generations can actively participate in the digital economy.
Through initiatives such as the Digital Maldives program, President Muizzu pointed out that the country is equipping its youth with essential digital skills and providing equal opportunities for women to succeed in the digital landscape. He emphasized that these efforts are crucial in ensuring a more inclusive and equitable digital future.
The President also underscored the role of digitalization in addressing the environmental challenges faced by the Maldives. He noted that the government is already utilizing smart technology and early warning systems to work towards a more sustainable and resilient future.
While recognizing the benefits of digitalization, President Muizzu acknowledged the challenges that come with it. To overcome these challenges, he stressed the importance of establishing international linkages. Additionally, he highlighted his administration’s efforts to launch the Development Bank of Maldives, a government-owned entity aimed at financing digital innovation and sustainable development projects.
Established on May 16, the Development Bank of Maldives Limited was created under the authority granted to President Muizzu by the Companies Act. The bank will focus on fostering sustainable economic and social development, supporting infrastructure investment, and enhancing foreign exchange within the domestic banking system. This initiative fulfills one of President Muizzu’s key presidential pledges to drive forward the nation’s progress through digital and financial innovation.
