His Excellency President Dr Mohamed Muizzu held a high-level meeting with Tan Sri Sir Dr Jeffrey Cheah KBE AO, Founder and Chairman of Malaysia’s Sunway Group, to explore avenues for strengthening investment cooperation between the Maldives and one of Malaysia’s most prominent multinational conglomerates.
During the meeting, President Dr Muizzu welcomed the Sunway Group’s interest in expanding its presence to the Maldives and outlined key sectors that present strong opportunities for collaboration, including tourism, education, healthcare, and renewable energy. The President also highlighted the potential for partnership with the Maldives National University (MNU), especially in areas related to on-the-job training and academic development.
Dr Jeffrey Cheah provided an overview of Sunway Group’s diverse operations, which span construction, property development, education, healthcare, hospitality, and more. He expressed keen interest in the Maldives’ investment climate and inquired about key aspects of the business environment, including foreign investment procedures, taxation, visa facilitation, and currency policies. The Sunway delegation also conveyed their intention to visit the Maldives to gain a deeper understanding of the opportunities available and assess potential areas of cooperation on-site.
In response, Ministers accompanying the President shared comprehensive insights into the Maldives’ economic framework and investment strategy. They introduced ongoing national projects, such as the Ras Malé development and progress within the country’s Special Economic Zones (SEZs), designed to attract targeted foreign investments with long-term potential.
The delegation also discussed the government’s digital transformation efforts and reiterated the Maldives’ commitment to sustainability. This includes the administration’s goal of generating 33 percent of the nation’s energy from renewable sources, with current solar energy projects already underway across multiple regions.
Further emphasizing the Maldives’ commitment to supporting foreign investment, officials highlighted the Maldives Foreign Investment Act, which came into effect in December 2024. The legislation is designed to provide a stable, transparent, and investor-friendly environment, offering legal protection and a clear regulatory framework to ensure that investments yield sustainable returns.
The meeting concluded with both parties expressing mutual goodwill and optimism toward future cooperation. President Dr Muizzu reaffirmed that the Maldives remains open to forging strong partnerships with international firms and is committed to creating a supportive environment for investors who share the nation’s development vision.
The Sunway Group meeting is one of several high-level business engagements undertaken by President Dr Muizzu during his official visit to Malaysia. Earlier, he also held discussions with Tan Sri Dato’ Seri Vincent Tan Chee Yioun, Founder and Advisor of Berjaya Corporation Berhad, as part of the government’s broader effort to expand investment ties and promote long-term economic partnerships with leading Malaysian enterprises.
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