President Dr Mohamed Muizzu has reaffirmed the Government’s strong commitment to promoting small and medium enterprises (SMEs) as a central pillar of national economic development, while presenting a comprehensive set of policy measures aimed at strengthening trade infrastructure, improving logistics efficiency, and ensuring the availability of affordable essential goods across the country. The President made these remarks while delivering the Presidential Address at the first sitting of the first session of the 20th People’s Majlis for the year, outlining the Government’s medium- and long-term economic vision for the Maldives.
In his address, the President announced the Government’s decision to designate a specific area for a fixed period with significant regulatory ease to further advance and develop SMEs. This initiative is designed to create a conducive environment for entrepreneurship, reduce administrative barriers, and encourage both local and foreign investors to collaborate with Maldivian businesses. He emphasised that the Government is building on initiatives implemented in 2025, while fully utilising existing facilities and rolling out additional measures planned for this year, with the objective of elevating Maldivian innovation and competitiveness. The President reiterated that the long-term national ambition is to see the Maldives recognised among developed countries by 2040, supported by a diversified and resilient economy.
Highlighting major infrastructure developments, the President confirmed that the relocation of the commercial harbour to Thilafushi will be completed and opened by 11 November 2027. Once operational, unloading times for cargo vessels are expected to be reduced from up to seven days to within 48 hours. This transformation is anticipated to significantly improve supply chain efficiency, lower operational costs for businesses, and ease congestion and storage challenges currently faced in Malé. The President noted that these improvements will have a direct positive impact on both traders and consumers, strengthening the overall commercial ecosystem.
The President also outlined progress in safeguarding food security and cost-of-living stability. Since last year, the number of staple food items has been increased to 23 varieties, with measures in place to ensure that essential commodities remain affordable. These items are being supplied at State Trading Organisation rates to islands with populations exceeding 3,000 through STO agents, ensuring equitable access to basic necessities. In addition, staple food items are being imported via STO to Kulhudhuffushi and Addu City, enabling residents in these regional centres to purchase essential goods at lower prices.
To further enhance distribution and consumer access, the President stated that STO has opened an outlet in the Malé harbour area and that a new outlet will be established in Hulhumalé before the start of Ramadan. These outlets are expected to strengthen retail coverage, improve price stability, and provide greater convenience for households and businesses alike.
Additionally, the President highlighted the establishment of a duty-free cargo area at Kulhudhuffushi Harbour in August 2025 and confirmed that a similar duty-free zone will be established in Addu City this February. These developments are intended to support regional trade, encourage private sector participation, and position the Maldives as a more efficient and attractive hub for commerce within the Indian Ocean region.
Collectively, the measures announced reflect a coordinated national strategy focused on empowering entrepreneurs, modernising trade infrastructure, and improving the quality of life for citizens, while laying a strong foundation for sustainable economic growth and international competitiveness.
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