President Dr Mohamed Muizzu has announced that businesses registered under the Authentic Maldives programme have been authorised to sell their products through Alibaba.com, as part of a wider strategy to strengthen the creative industry and expand access to global markets.
The announcement was made during a consultation with local entrepreneurs, where the President addressed ongoing challenges related to foreign currency exchange. He said that under the new arrangement, 400 vendors already listed on Alibaba.com will be able to market their products internationally, provided they remain registered under the Authentic Maldives programme.
Officials described the initiative as a key step towards opening international market channels for Maldivian manufacturers and reducing logistical barriers associated with cross-border trade.
President Muizzu also highlighted progress in discussions with PayPal, expressing optimism that the service could become available to Maldivian citizens by January. He said this would significantly ease international transactions for local entrepreneurs.
In addition, the President said the Bank of Maldives is preparing to launch a locally developed digital wallet, ‘Swipe’, in the first quarter of next year. The bank has described the platform as a major milestone in its efforts to position itself as a leading digital banking institution in the region.