China an important partner for the Maldives because of its experience
Economic diversification essential to achieving the vision of a developed nation
President Dr Mohamed Muizzu has invited Chinese investors to participate in the government’s vision of transforming the Maldives into a developed nation by 2040.
The President extended the invitation while delivering remarks at the opening ceremony of the China–Maldives Investment Cooperation Forum. He highlighted China’s importance as a development partner and said efforts would continue to strengthen relations between the two countries in the years ahead.
President Muizzu said relations between the Maldives and China were built around a shared future based on opportunities created by both countries. In this regard, he described the Free Trade Agreement between the two countries as a significant achievement in their economic relations, noting that it had opened up opportunities for Maldivian businesses in international markets.
The President stated that the Maldives imported goods worth USD 440 million from China between January last year and August this year. Of that amount, approximately USD 124 million worth of goods were imported under the Free Trade Agreement.
President Muizzu said the two countries should further strengthen their relationship in ways that would benefit the wider community. Highlighting the opportunities available for Maldivian fish and other locally produced goods in the Chinese market, he invited Chinese investors to work closely with Maldivian businesses.
“We do not want Maldivian businesses merely to participate in the international market. We want them to compete and become successful in that market. China can be an important partner in this effort,” President Dr Mohamed Muizzu said.
Highlighting how technology was creating new opportunities, the President said the government was working to establish a strong digital economy under its Maldives 2.0 vision. He noted that platforms such as Alipay and WeChat Pay could make it easier for tourists to spend money in the Maldives while creating opportunities for local businesses to expand.
The President also emphasised that digital transformation offered the Maldives an opportunity to empower businesses, create opportunities for young people and overcome geographical challenges.
He said achieving his vision of transforming the Maldives into a developed nation by 2040 would require economic diversification and stronger partnerships with investors committed to working towards that goal. He also noted that the Foreign Investment Act had expanded investment opportunities, enabling more transparent operations and helping strengthen investor confidence.
President Muizzu said China’s experience could make it an important partner in achieving the Maldives’ development goals. He highlighted the benefits that projects carried out with China’s assistance had already brought to the Maldivian people.
Referring to the China–Maldives Investment Cooperation Forum, the President called on investors to take a fresh look at the investment opportunities available in the Maldives. He encouraged them to explore the country’s potential and contribute their experience, ideas and innovation towards achieving the Maldives’ vision for 2040.
