Foreign investors can expect streamlined regulations, improved legal protections, and new opportunities in innovation-driven sectors in the Maldives, according to the Minister of Tourism and Environment, Hon. Thoriq Ibrahim. Speaking at a high-level panel during the Maldives–Singapore Business Forum, Minister Thoriq affirmed the government’s commitment to transforming the country into an investment-friendly destination that welcomes advanced technologies and modern business solutions.
Held in Singapore as part of President Dr Mohamed Muizzu’s official state visit from 29 June to 2 July 2025, the forum brought together business leaders, investors, and government officials to explore new avenues of bilateral trade and economic cooperation. During the panel discussion, Minister Thoriq emphasized that the Maldives is undergoing extensive reforms to align its investment environment with global best practices.
One of the key achievements discussed was the revision of the Foreign Investment Act after 45 years, which the Minister described as a major step forward in building investor trust and confidence. The updated legal framework now ensures greater transparency, regulatory clarity, and stronger protections for foreign investors. These reforms, he explained, are designed not only to attract investment capital but also to bring in global expertise, technical know-how, and cutting-edge technology that will contribute to the Maldives’ long-term development goals.
“Foreign investment is not only about revenue generation. It also opens the door to innovations and modern technologies that can uplift the quality and competitiveness of our economy,” said Minister Thoriq. He also added that new investments are expected to play a transformative role in priority sectors, including clean energy, digital infrastructure, sustainable tourism, and environmental management.
During the forum, the Minister also shared updates on the government’s broader economic vision. He referenced President Dr Mohamed Muizzu’s Vision 2040, a national strategy aimed at positioning the Maldives as a developed, resilient economy by the year 2040. As part of this plan, long-term investment frameworks are being developed to support projects in infrastructure, education, healthcare, and green technology.
Highlighting the importance of digital transformation, Minister Thoriq outlined several initiatives underway under the government’s digitalisation policy. These include efforts to digitise financial transactions, streamline business registration, and enhance public services to facilitate smoother investor interactions. These advancements, he said, are central to building a modern regulatory environment that meets the expectations of today’s global investors.
The Minister also announced that a bilateral investment agreement with Singapore is currently being drafted, reinforcing the Maldives’ intent to deepen its economic relationship with one of its most important regional partners.
The panel discussion was attended by a wide range of stakeholders, including heads of major international companies with existing or planned operations in the Maldives. The event offered a platform to share insights, strengthen business networks, and highlight the Maldives as an attractive destination for future-focused investments.
The Maldives–Singapore Business Forum served as a key engagement within President Dr Muizzu’s state visit agenda, providing valuable opportunities to build on 50 years of diplomatic and commercial ties between the two nations. Through a renewed focus on innovation, regulatory reform, and strategic partnerships, the Maldives is working to position itself as a leading island economy in the region.
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