Honourable Ministers, Excellencies, Ladies and Gentlemen.
Let me begin by expressing my profound gratitude to each and every one of you present here today, for the immense effort undertaken at this Conference to amplify our collective message to the international community — we want resilient prosperity!
The Maldives story is not only about inherent vulnerabilities or worrying concerns. It is also one of determination to protect our people, values, and culture. And one that showcases a strong commitment to safeguard biodiversity in our land and ocean.
Sustainability has been our ethos.
Resilience has been our way of life.
And determination to protect our people and land has been our call to action.
In my presidential inaugural address, I emphasized the critical interplay between two pivotal forms of development.
Structural and human development are indispensable in molding a nation's security, strength, and standing on the global stage.
For a country to flourish economically and foster its social well-being, it's imperative that these two pillars progress hand in hand.
They are fundamental for sustainable growth and economic prosperity.
Excellencies, Ladies and Gentlemen.
Tourism has always been our economic backbone similar to almost all the SIDS.
With COVID-19 pandemic we witnessed how fragile this industry is.
The solution is diversifying the economy and catalyzing on the private sector.
This will open endless opportunities for structural and human development.
Economic diversification calls for a fundamental re-evaluation of our business practices.
Governments must forge stronger partnerships with private entities, fostering an environment conducive to increased private sector investment.
The private sector brings to the table not only financial resources but also expertise, innovation, and capacity that are indispensable in our collective efforts for development.
We need partners who can help in building the State capacity to attract private investors.
This is why we have established special economic zones tailored to attract significant investments for the Maldives.
We are shifting towards economic diversification and expanding various sectors beyond tourism.
Investments in infrastructure such as airports, healthcare facilities, communication, real estate, and transshipment ports are pivotal in this endeavour.
Diversification strategies have yielded remarkable results in several small island developing nations, catalyzing economic growth and advancing human development.
Embracing these opportunities paves the path toward a sustainable future for us all.
Excellencies,
This Conference is about learning and sharing experiences. I have gathered my delegation here to share our experiences.
Allow me to shed some light into some of the transformational endeavors we are undertaking, which also plays a crucial role in diversifying the economy.
Land scarcity and housing have always been pressing issues. We will be developing an entirely new city. A city with a state-of-the-art sustainable and climate resilient feature.
It aims to address the housing crisis and open doors to economic prosperity. It represents the Maldives commitment to sustainable urban living and inclusive development.
Reducing reliance on food imports and enhancing food security stands as a paramount goal of my development agenda.
We are actively pursuing avenues to introduce cutting-edge technology to bolster food production and are committed to establishing an agricultural industrial park.
This endeavor holds the potential to spearhead a revolutionary transformation in the Maldives.
Our economic resilience depends on international financial support.
Multilateral Development Banks and International Financial Institutions are well positioned to collaborate with governments and the private sector investor.
Forging partnerships, with MDBs and IFIs is crucial to mitigate the inevitable investment risks, which are vital for attracting private investors.
I urge the international community to join us in this development journey, offering accessible and adaptable solutions that recognize our distinct challenges and meet our pressing development needs.
I assure you that you will gain a lot of insight into our development story from this event today.
A lot of experience for you to take home and ponder upon.
Thank you.