The Rt Hon Lord Marland, Chairman of the Commonwealth Enterprise and Investment Council,
Members of my Cabinet,
Excellencies,
Members from the corporate sector of the U.K. and Maldives,
Assalamu Alaikum and a very good afternoon.
It is a great pleasure to be here in London with all of you — and especially so at a moment that holds special significance for both our countries. This year, the Maldives and the United Kingdom mark 60 years of diplomatic relations.
Six decades in, our friendship has grown stronger — supported by shared values, mutual respect, and enduring people-to-people connections.
But just as importantly, commerce and trade between our nations have flourished.
In our two largest industries — tourism and fisheries — the UK plays a central role. British investments have helped shape our luxury tourism sector, and today British visitors remain among our most frequent and valued travellers — over 180,000 in the past year alone.
At the same time, Maldivian tuna is caught sustainably by pole-and-line and now has a prominent place on British shelves and in British homes, with more than 20 million US dollars, in exports annually.
But for me, this relationship is also deeply personal. Like many Maldivians, I received my education here in the UK, an experience that shaped my worldview, my leadership, and my belief in the values that drive progress: sustainability, diversity, and inclusivity.
These are the same principles guiding the transformation we are driving at home to build a resilient and future-ready economy. One that delivers better opportunities for our people and opens new doors for international partnerships.
We're investing in key areas that will define the next generation of growth for the Maldives — creative industries, infrastructure development, human capital, and digital transformation.
These are not just abstract priorities. They are already shaping how we govern, how we deliver services, and how we work with the private sector to create impact.
First, the Creative Economy.
We see the creative sector — encompassing digital content, design, media, gaming, cultural enterprise and arts — as a major engine for future growth. Our target is for creative industries to contribute at least 15% of GDP by 2030. With a young, tech-savvy population and rapidly improving digital infrastructure, we are laying the foundation for Maldivian talent and global creative partnerships to thrive.
We welcome UK creative institutions, digital startups, design firms, and media ventures to collaborate with us — through joint projects, investment in platforms, or youth training opportunities and initiatives.
Second, Digital Transformation.
We're modernizing government and service delivery through full digitization of public services to make it easier to access services and engage with the government. The goal is improved governance and establish a smart state that supports businesses and unlocks innovation.
This opens up space for UK tech firms, software providers, e-governance experts and cybersecurity firms to engage with us in building a digital future — one that’s agile, secure, and inclusive.
Third, Renewable Energy.
Our ambition is to meet one-third of our national electricity demand through renewable energy sources by 2028 — up from just 4% today.
We’ve already issued our first Special Economic Zone (SEZ) permit for a 100-megawatt floating solar project — the first of its kind in the region. The project alone is expected to save millions of dollars in fuel imports.
UK firms with clean energy expertise — whether in technology, engineering, financing, or advisory — will find this a sector of immense opportunity and long-term impact.
Fourth, Fisheries and Ocean Innovation.
The Maldivian fisheries sector is a pillar of our economy and heritage. We are reimagining it through innovation and diversification. Alongside mariculture and sustainable aquaculture, we are investing in infrastructure to scale up fish processing and add value to our traditional tuna fisheries.
Across five strategic regions, we are opening new commercial mariculture sites to develop hatcheries, nurseries, grow-out facilities, and modern processing hubs. These are supported by vast lagoon access, operational land, and proximity to airports and population centres for efficient logistics.
I’m also pleased that, here at this forum, we have officially launched the Maldives Fishery brand just now — a symbol of our commitment to premium, sustainable, and traceable seafood, grounded in responsible practices and quality.
There is clear space for British companies to plug into this growing, innovation-driven ecosystem. Including in marine science, cold-chain logistics, traceability, and sustainable packaging.
Fifth, Tourism and Infrastructure.
Tourism will always remain central to our economy, but we are diversifying the experience. Beyond luxury, we are expanding into wellness, sports, cruise and halal tourism, tapping into significant new market opportunities.
The new terminal at Velana International Airport, set to open later this month, will enable tourism arrivals to grow by several multiples significantly enhancing the tourism sector. This new terminal will also enable expanded cargo handling, air services, and regional aviation connectivity.
Distinguished Guests,
The Maldives is positioning itself not only as a destination — but as a serious platform for investment, innovation and impact. We offer:
- Political stability with a clear vision for transformation
- A strategic location between Asia, Africa and the Middle East
- A youthful population with rising skills and aspirations
- And now, a vastly modernised investment framework
Last year, we enacted a new Foreign Investment Act, replacing 45-year-old legislation. This law strengthens investor protection, streamlines approvals, enhances regulatory clarity, and brings our business environment in line with international best practices.
We have also reactivated the Special Economic Zones framework— enabling project-specific arrangements for sectors such as energy, ports development, healthcare, education, and finance.
And today, a Memorandum of Understanding between the West London Chambers of Commerce and our Ministry of Economic Development and Trade will be signed. This marks a key step forward — giving UK businesses a structured way to engage with us, explore projects, and co-create value.
Distinguished Guests,
Let me close with this:
The Maldives stands ready to engage in meaningful business. We stand prepared to deepen our partnership with Britain.
And we warmly welcome those who share our unwavering commitment to sustainable growth, innovative solutions, and inclusive prosperity.
This moment is not merely about investment — it is about shaping our future-ready economy.
We firmly believe that UK businesses, with your innovation, expertise, and values, have an essential role to play in the Maldives.
Therefore, I extend a sincere invitation to explore the opportunities the Maldives presents.
Together, let us build strong, forward-looking partnerships.
Together, let us transform potential into tangible progress.
Thank you.