بســم اللّـه الرّحمـن الرّحيــم



Excellencies,

Ladies and Gentlemen.

As all of you know, the Maldives is an island nation of beauty, surrounded by vast oceans, with clean beaches, clear waters and vibrant reefs. But beneath that beauty is also an island nation which faces immense challenges. We do not believe that our fate is to simply fade away over time. We refuse to be defined by our vulnerabilities. I believe that SIDS like mine, should be in charge of our own destinies.

Almost one year ago, the Government of President Dr Muizzu took office with a bold and ambitious vision for our country. A vision for a more resilient and prosperous Maldives. A vision to transform the Maldives into a developed country by 2040.

It might seem too ambitious – unrealistic even. But this does not discourage. Instead, it fuels our resolve.

We are, after all, small islands with big dreams.

To achieve our goal of becoming a developed nation, we need the support of the Commonwealth business community. I propose three recommendations through which we can work together to ensure long-term resilience for SIDS and foster prosperity for all.

First, foster an enabling environment that attracts private sector investment.

Access to finance is often limited, and we compete with systems that don’t fully cater to our needs. This is why partnering with the private sector is important. We must use our strengths, embrace our opportunities, and collaborate with partners in the private sector.

But for you to partner with us, we must create conditions that make our islands attractive to businesses. We must streamline policies, cut down on red tape, and create a strong regulatory framework.

This is not a new idea. But our commitment to this endeavour must go beyond words. To achieve our goals, we need your support and trust. We aspire to have your confidence. We invite you to invest in the Maldives.

Second, our collaborations must be centred on sustainability.

In COP28 last year, President Dr Mohammed Muizzu announced that the Maldives intends to generate 33% of our electricity demand from renewable sources by 2028. This is part of our broader plan to rely less on imported fossil fuels and promote sustainability.

With 99% of our territory covered by ocean, we are eager to use its potential for energy generation. The Maldives is an ideal testing ground for cutting-edge renewable energy solutions. We invite you to join us in this journey toward a sustainable future.

Third, we must strengthen our own private sector and facilitate better business-to-business interactions.

We are committed to creating an environment where businesses can thrive. This means making it easier for businesses to trade across borders and explore new markets.

A key part of this change is economic diversification. Our economies rely heavily on tourism and fisheries, which makes us vulnerable to external shocks. By supporting new sectors like ICT, finance and renewable energy, we can create new opportunities for growth. We have been working to access all the services offered by platforms such as Amazon, YouTube, Instagram, and PayPal.

By 2040, we aim to facilitate a vibrant and resilient private sector that in turn contribute towards shared prosperity. We invite you to partner with our businesses.

Distinguished Guests,

I invite you, the members of the Commonwealth business community, to partner with the Maldives in this transformative journey.

Every dollar invested in SIDS can produce transformative change. You will not find a more willing partner than a SIDS government.

The Maldives stands ready to collaborate, innovate, and grow with you.

I thank you.