Dr Mohamed Muizzu has announced a comprehensive three-year programme of special measures for Addu City aimed at accelerating the development of small and medium-sized businesses through targeted concessions and strategic support, as part of a broader national vision to strengthen innovation, productivity, and economic diversification. The announcement was made during the Presidential Address delivered at the first sitting of the first session of the 20th People’s Majlis for the year, where the President outlined a forward-looking agenda designed to create sustainable growth opportunities across the country.
The President stated that the initiative will prioritise the designation of specific areas for small and medium-sized business activities and the introduction of special concessions to encourage entrepreneurship and private sector participation. Addu City, including the areas of Addu Hulhudhoo and Addu Meedhoo, has been identified as the first focus of this national effort, with the three-year programme scheduled to commence on 1 January 2027. According to the President, the legal, administrative, and technical frameworks required to implement the programme will be established within this year to ensure a smooth and effective rollout.
The expected outcomes of the initiative include a significant expansion of the small and medium-sized business sector, the creation of new employment opportunities, and enhanced economic activity that contributes directly to the long-term development of Addu City and the Maldives as a whole. The President emphasised that the programme is designed not only to stimulate business formation but also to nurture innovation-driven enterprises, technology-focused ventures, and digital services that can compete regionally and globally.
Calling on domestic and international partners, investors, and collaborators to engage with the initiative, the President expressed the Administration’s aspiration for Addu City to evolve into the nation’s IT hub. This vision aligns with the Administration’s designation of the current year as the “Year of Innovation,” underscoring a national commitment to fostering creativity, technological advancement, and entrepreneurship across all sectors of society.
The President further noted that the overarching objective of these efforts is to ensure that every citizen becomes a productive contributor to the nation’s economic well-being, while collectively working towards achieving developed-nation status by 2040. For global observers and potential investors, the programme signals the Maldives’ intent to broaden its economic base beyond traditional sectors, strengthen regional development, and build a resilient, innovation-led economy anchored by emerging hubs such as Addu City.
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