President Dr. Mohamed Muizzu has announced that the Maldives has significantly expanded its economic doors to international investors. Speaking as the guest of honor at the Maldives-Sri Lanka Business Forum held in Sri Lanka, the President detailed his administration’s commitment to fostering a more inclusive and open business environment.

During his address, President Muizzu highlighted the government’s strategic vision to transform the Maldives into a fully developed nation by the year 2040. He emphasized that this ambitious target would be met through robust human resource development, the integration of modern technology, and a specialized focus on environmental sustainability in policy implementation.

A key component of this economic shift is the recent overhaul of the nation’s foreign investment legal framework. The President noted that substantial amendments have been made to the Foreign Investment Act, which had remained largely unchanged for 40 years. These reforms are designed to provide foreign investors with clear, streamlined pathways while simultaneously protecting local small and medium-sized enterprises (SMEs).

President Muizzu further remarked that the results of these institutional reforms are already evident. He cited Google’s ‘Dhivar’ submarine cable project in the Maldives as a prime example of international confidence in the country’s economic trajectory and its readiness to compete on a global scale.