The Maldives-Singapore Business Forum will act as a catalyst to boost opportunities for Maldivian entrepreneurs and foreign investors in the country, the Minister of Economic Development and Trade Mohamed Saeed has said.
In an exclusive interview with PSM News, after the forum in Singapore, Minister Saeed said the forum was an immense success.
The forum attended by more than 200 participants including Maldivian and Singaporean businessmen, has opened up a multitude of investment opportunities for the Maldives, he said.
"There has been a very good dialogue, many opportunities have opened up. This is a great forum especially for those who have invested in tourism,” he added.
Key investment opportunities including in clean energy, luxury tourism, infrastructure development, and in the digital economy in line with the Government’s Vision 2040 to attain developed country status by 2040 were outlined in the forum.
The Maldives on Monday signed three high-profile investment agreements during the Maldives–Singapore Business Forum, held alongside President Dr Mohamed Muizzu's ongoing official visit to Singapore.
A memorandum of understanding was signed between the Ministry of Finance and Planning and Singapore Cooperation Enterprise to strengthen the capacities of the Maldives’ State Owned Enterprises through study visits, training programs and consultancy services.
A Services Agreement to establish a Residence by Investment Programme was signed between the Government of Maldives and Henley & Partners. Henley & Partners is the leading global firm in residence and citizenship by investment. This agreement enables avenues for real estate investment, positioning the Maldives as a premium island economy to live and invest in.
An Investment Agreement for Project Solar City was signed between the Government of Maldives and APM SPV Pvt. Ltd that will see the first large scale floating solar power project built in the Maldives. It reflects the Maldives’ climate goals and is a significant step towards the country’s target of meeting 33 percent of electricity demand from renewable sources by 2028.
A high-level panel discussion was held at the forum under the theme “From Foundation to Future: Exploring Investment Partnerships”. The discussion focused on securing sustainable investment returns in a diverse range of areas, consistent with the broader development goals of the Maldives.
The forum also featured sideline events which focussed on the past 50 years of trade and commercial ties between the Maldives and Singapore.