The Maldives has spotlighted major economic reforms to boost foreign investment, with Foreign Minister Dr Abdulla Khaleel unveiling key legislative and structural changes during the Maldives–Singapore Business Forum held this week in Singapore. The event coincided with President Dr Mohamed Muizzu’s official state visit to mark 50 years of diplomatic relations between the two nations.
Addressing over 200 investors and business leaders, Minister Khaleel emphasised the government’s commitment to transforming the Maldives into a globally attractive investment destination. At the heart of this reform agenda is a landmark amendment to the country’s Foreign Investment Act—the first substantial revision in 45 years.
“The new framework introduces operational clarity, modern legal standards, and stronger protections for investors,” Minister Khaleel said. “This is a key pillar of our strategy to boost investor confidence and drive long-term economic growth.”
The minister also highlighted the government’s push to expand Special Economic Zones (SEZs), which are envisioned as hubs for infrastructure development, digital services, data localisation, and blue economy projects. He described SEZs as “a platform for transformative investments,” offering streamlined operations under a clear legal umbrella.
In addition to legislative updates, Khaleel pointed to broader investment opportunities in sectors such as tourism, logistics, aviation, renewable energy, and digital infrastructure. He reaffirmed that the Maldives is positioning itself as a competitive destination for foreign capital, with reforms aimed at ensuring transparency, efficiency, and high returns.
Reflecting on the 50-year milestone in Maldives-Singapore ties, Minister Khaleel noted the historical bond between the two countries—including their joint entry into the United Nations—and urged closer economic cooperation moving forward.
“The Maldives is open for business,” he said. “These reforms are more than policy shifts—they’re a clear message that we are ready to work with the world.”
The forum is part of the Maldives’ broader diplomatic and economic outreach under President Muizzu’s administration, which has prioritised diversifying the economy beyond tourism and creating an investor-friendly landscape across emerging sectors.
