President Dr Mohamed Muizzu has underscored the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in advancing the Maldives’ economic transformation.
Posting on his official X account on the occasion of International MSMEs Day today, President Dr Muizzu reaffirmed his Administration’s commitment to empowering MSMEs through inclusive financing and improved market access.
He emphasised that small businesses are essential to economic diversification, highlighting the Maldives Expo 2025 as a key platform for MSMEs to connect with markets and unlock new opportunities as the nation works towards its goal of becoming a developed country by 2040.
In a message issued to mark the day, the President added that this year’s theme, “Enhancing the Role of MSMEs as Drivers of Sustainable Growth and Innovation,” aligns with the Maldives’ national vision for inclusive and resilient development.
He stressed that MSMEs embody the country’s entrepreneurial spirit by strengthening communities, preserving cultural heritage, and driving innovation, particularly in fisheries and the creative industries.
The President also outlined the Creative Economic Strategy, which aims to raise the creative sector’s contribution to 15 per cent of GDP by enabling MSMEs to leverage cultural assets for economic development.
He cited progress through initiatives such as the MVR 100 million start-up loan scheme, which has supported over 350 women-led businesses, alongside flexible SME financing and targeted loans aimed at enhancing financial inclusion across island communities.
Concluding his message, the President praised the resilience and innovation of local entrepreneurs and expressed continued support for knowledge exchange and global collaboration.