A new chapter of economic cooperation was showcased 01st July 2025, Tuesday morning in Singapore as His Excellency President Dr Mohamed Muizzu attended the Maldives–Singapore Business Forum, a key event of his ongoing state visit from June 29 to July 2, 2025. The forum brought together leading investors, policymakers, and business representatives from both nations to explore opportunities for strategic partnerships and long-term collaboration.
Organised to mark the 50th anniversary of diplomatic and commercial ties between the Maldives and Singapore, the forum celebrated past successes while setting a forward-looking agenda aligned with the Maldives’ Vision 2040, the government’s roadmap to achieve developed country status by the year 2040.
In his remarks, President Dr Muizzu underscored the importance of strengthening economic partnerships with Singapore and highlighted the role of private sector collaboration in unlocking sustainable development across emerging sectors. He also presented special awards to distinguished individuals and enterprises from both countries, recognising their contributions to five decades of trade and investment ties.
Key investment areas were showcased at the event, with emphasis on clean energy, luxury tourism, infrastructure development, and digital innovation. These sectors, as identified by the current administration, are critical to diversifying the Maldivian economy and positioning the country as a premium destination for investors seeking sustainable, high-return ventures in a secure and strategically located island economy.
A major outcome of the forum was the signing of several agreements aimed at enhancing bilateral commercial ties. Among these, a Memorandum of Understanding between the Ministry of Finance and Planning of the Maldives and Singapore Cooperation Enterprise was signed to support capacity building for Maldivian State-Owned Enterprises (SOEs). The agreement includes study visits, training programmes, and consultancy services to strengthen institutional performance and operational efficiency.
In a bid to position the Maldives as a global destination not only for leisure but also for lifestyle investment, the Government of Maldives signed a Services Agreement with Henley & Partners to establish a Residence by Investment Programme. Henley & Partners, recognised globally for its work in citizenship and residency investment programmes, will assist in creating new avenues for real estate-driven economic growth. This initiative introduces pathways for international investors to reside in the Maldives, further supporting long-term tourism and residential infrastructure development.
Another key agreement, reflecting the nation’s commitment to renewable energy targets, was the signing of an Investment Agreement for Project Solar City between the Government of Maldives and APM SPV Pvt. Ltd. This project will see the development of the first large-scale floating solar power plant in the Maldives, helping to meet the national target of generating 33% of electricity from renewable sources by 2028.
The forum also featured a special address by Her Excellency Grace Fu Hai Yien, Minister for Sustainability and the Environment of Singapore, who praised the steady growth in bilateral cooperation and expressed optimism for continued progress in climate resilience and sustainable infrastructure development.
A high-level panel discussion titled “From Foundation to Future: Exploring Investment Partnerships” brought together key stakeholders to discuss ways to secure sustainable investment returns. Panellists explored opportunities in diversified sectors that align with the Maldives’ long-term development priorities and Singapore’s investment outlook in the Indian Ocean region.
Sideline events during the forum revisited milestones in the 50-year commercial relationship between the two nations, with a focus on the role of Singaporean businesses in shaping the Maldives’ tourism, logistics, and infrastructure landscape.
The Maldives–Singapore Business Forum reinforced the shared vision of both governments to drive private-sector-led growth, build institutional resilience, and foster strategic investment in line with the challenges and aspirations of the next generation.
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