The Maldives on Monday signed three high-profile investment agreements during the Maldives–Singapore Business Forum, convened alongside President Dr Mohamed Muizzu's official visit to the city-state. Central to these accords was a landmark renewable energy deal, the first project approved under the Maldives' Special Economic Zone (SEZ) framework, signalling a pivotal step in its clean energy transition.
Now in its seventh iteration, the forum reflects the Maldivian government's ongoing campaign to attract foreign capital by spotlighting sector-wide development opportunities. By anchoring such outreach in strategic cities abroad, the government aims to solidify international investor confidence in the country's economic trajectory. The latest forum, held in one of Asia's premier financial centres, yielded agreements across renewable energy, residency migration, and intergovernmental collaboration, all indicative of growing global interest in the Maldives' investment landscape.
Among the accords, a Service Agreement for a Residence-by-Investment Programme was formalised between the Maldives and global consultancy Henley & Partners. Mohamed Saeed, Minister of Economic Development and Trade, signed on behalf of the government, with Philippe Amarante, Director for the Middle East, representing the firm.
Also finalised was a bilateral agreement with the Singapore Cooperation Enterprise (SCE). Representing the Maldives was Minister of Finance and Planning Moosa Zameer; Tay Lian Chew, Deputy Chief Executive Officer, signed for the SCE.
Topping the day's developments was the signing of a 100-megawatt floating solar photovoltaic (PV) project, the first initiative authorised under the SEZ framework since its approval in February. Branded 'Project Solar City', the undertaking will be led by APM SPV Pvt. Ltd., a special purpose vehicle incorporated in the Maldives. The agreement was executed by Thoriq Ibrahim, Minister of Tourism and Environment, and James Colter E.D., Managing Director of APM SPV Pvt. Ltd.
Framed as a flagship component of President Muizzu's renewable energy strategy, the project aims to help raise the share of clean energy in the national mix to 33 percent by 2030. Government officials expect it will deliver both environmental dividends and strengthened energy resilience across the archipelago.