Minister of Economic Development and Trade Mohamed Saeed has said that the Maldives–Singapore Business Forum, opened-up further investment opportunities for current and prospective local and foreign investors.

He made the comment at the Maldives Singapore Business forum held today in Singapore, declaring it was a very successful joint venture, with historic results. Stating that the Forum has secured investment commitments totaling USD 680 million for projects within the Special Economic Zone, Minister announced that the investment drive is part of the government's broader objective to attract USD 1 billion to the zone over the next five years.

Minister Saeed reaffirmed a central component of the administration's economic policy is reducing the nation's reliance on tourism and supporting broader sectoral diversification. "The SEZ portfolio currently presents investment opportunities exceeding USD 680 million across several strategic sectors. These comprise concrete, development-ready projects," the minister stated.

The portfolio includes a major renewable energy project, already granted approval, underscoring the government's emphasis on sustainable infrastructure. Minister Saeed pointed to continued investor interest in other key sectors, particularly tourism, and stressed that these ventures would operate within a stable and transparent commercial framework under Maldivian law.

He also spoke to the enduring ties between Singapore and the Maldives, describing the bilateral relationship as one anchored in mutual respect. Acknowledging Singapore's longstanding role in Maldivian tourism, he credited both Singapore Airlines and private-sector partners for their contributions to the sector's growth.

Concluding his remarks, Minister Saeed described the partnership between the two island nations as a compelling example of how smaller states can achieve substantial economic progress through long-term cooperation and strategic engagement. 

The one-day Forum which concluded earlier in the day was attended by over 200 business leaders, investors, and entrepreneurs from both countries, particularly those operating within the identified priority sectors such as Financial Services, Tourism and Hospitality, Real Estate Development, and Renewable Energy.