President Dr Mohamed Muizzu has said the Maldives is working to position itself as an open destination for sustainable investment and to build a more competitive economy, as the Government advances a wide-ranging reform agenda aimed at modernising the country’s investment framework.
Delivering the keynote address at the Maldives–Sri Lanka Business Forum, the President set out the Government’s forward-looking economic policy direction, framing the current reform push as a decisive shift towards a clearer, more transparent and more facilitative environment for both domestic and foreign investors.
Modernising a Decades-Old Framework
Central to the reform programme are amendments to the Foreign Investment Act and the Foreign Investment Regulation, legislation that has been in place for some four decades. The President said the updated framework is designed to give investors greater clarity, predictability and transparency, replacing rules that had remained largely unchanged even as the global investment landscape evolved significantly.
While reforms are being introduced to safeguard sectors in which Maldivian businesses are already active, the President said the Government is simultaneously opening new avenues for investment in areas prioritised for national development. He emphasised the importance of attracting foreign expertise and technology to support those priorities, framing the approach as one that balances domestic protection with strategic openness.
He further noted that through these legal reforms, the Government is working towards an open and competitive economy, a direction he described as essential to unlocking the country’s longer-term potential.
Vision 2040 and Investor Confidence
The President linked the reform agenda to Vision 2040, the Government’s long-term development strategy, which places private sector-led growth at the centre of national economic transformation. He said the combined effect of legal modernisation and policy clarity is intended to accelerate growth and strengthen investor confidence in the Maldives.
Citing Google’s submarine cable project as a notable example, the President said such investments reflect the level of confidence that major international companies are placing in the Maldives as an emerging hub in the region.
Maldives–Sri Lanka Ties and Two-Way Investment
Speaking to the broader bilateral context, the President described the long-standing cultural ties and 60 years of diplomatic relations between the Maldives and Sri Lanka as reflecting a “civilizational closeness” between the two nations. He pointed to opportunities for deeper cooperation in urban development, digital innovation, sustainable tourism and food security.
He also stressed that just as the Maldives is seeking foreign investment, Maldivian businesses are increasingly looking outward for opportunities of their own. In that regard, he identified Sri Lanka as a key destination, adding that both countries stand to benefit most from sustaining an investment environment that remains open and accessible on both sides.
The President closed by inviting Sri Lankan businesses, as well as international firms operating in Sri Lanka that took part in the forum, to consider sustainable investment opportunities in the Maldives.
