President Dr Mohamed Muizzu has stated that the Maldives International Financial Centre (MIFC) would be the Maldives’ legacy of bold decisions, courageous partnerships, and national purpose. President Dr Muizzu made the remarks while speaking at the landmark joint venture agreement and Memorandum of Understanding (MoU) signing ceremony for the establishment of the MIFC.
The ceremony, attended by distinguished guests including several high-profile international dignitaries, marked the beginning of a bold new chapter defined by ambition, innovation, and transformation. President Dr Muizzu described the MIFC as a commitment to diversifying the Maldives’ economy beyond traditional boundaries, to empowering Maldivians with opportunity, resilience, and pride, as well as a commitment to the world that the Maldives is ready to lead in reimagining the future of finance, sustainability, and urban living.
The President further stated that the MIFC is the Maldives’ launchpad to becoming a developed nation by 2040. He added that the Maldives is embarking on this extraordinary journey with clarity, conviction, and optimism. The President further stated that the Maldives is not only a destination or a small island state, but a driver of global change and a smart island nation at the epicentre of the Indian Ocean’s economic and digital evolution.
President Dr Muizzu also emphasised that the Maldives would not imitate models of the past, but rather set a new benchmark for a financial ecosystem that is borderless, digital-first, inclusive, sustainable, and future-ready. He noted that the MIFC, with its projected multibillion-dollar revenues and significant long-term contributions to the Maldives’ national GDP, would be a catalyst for unlocking opportunities across industries. The President envisioned the MIFC uplifting the community and creating pathways for generations of Maldivians to come.
At the ceremony, the President oversaw the signing of the joint venture agreement and MoU between the Ministry of Finance and Planning and MBS Global Investments for the establishment of the MIFC, and later presented commemorative mementoes to the distinguished guests.