Efforts to promote foreign investment opportunities within the Maldives have been significantly strengthened, Mohamed Saeed, the Minister of Economic Development, Transport and Trade, said during a press briefing.
Responding to PSM News at the President’s Office, the minister declared the tenth Maldives-Sri Lanka Business Forum, held during the president’s official visit, a resounding success. The event attracted an estimated 3,000 attendees, with foreign investors comprising more than 80 per cent of the participants, he noted.
Operating as a central component of the president’s electoral manifesto, these forums thoughtfully execute promotional strategies with greater planning to streamline bureaucratic processes, establishing the nation as a highly accessible destination for foreign capital, the minister explained. The government must approach broader investment promotion with the same necessity and vigour applied to its foundational fishing and tourism industries, he stated, highlighting the deep demographic ties and the expatriate community's untapped commercial ambitions.
“Sri Lanka is a closely allied neighbour, serving as home to a substantial expatriate community of Maldivians,” Minister Saeed explained. “While residing there, these individuals naturally possess commercial ambitions and investment interests they wish to pursue. However, at present, a system of unilateral economic flow has developed. This means that Sri Lankan investors are currently injecting capital into the Maldives in substantial volumes.”
“Conversely, highly favourable commercial opportunities for Maldivians to invest in Sri Lanka have not yet materialised. Therefore, the President is determined to foster a reciprocal, bilateral investment framework to rebalance this dynamic," he continued.
Aligning business forums with international tours captures the host leadership's concerted attention, evidenced by the Sri Lankan prime minister delivering a formal address, he observed. The collaborative event successfully shared comprehensive information regarding emerging prospects across economic sectors, specifically encompassing the vital tourism and agricultural industries, Minister Saeed concluded.