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In a momentous address at the “Invest Maldives” business gathering and networking event in the picturesque city of Fuzhou, His Excellency President Dr. Mohamed Muizzu articulated his government’s unwavering commitment to development through engagement, partnership building, and focused delivery. The President, currently on his first state-level visit to China, expressed gratitude to President Xi Jinping and the people of China, highlighting their pivotal role in shaping the close ties between the two nations.
The forum, co-hosted by the Fujian Provincial People’s Government and officials of Fuzhou, provided a platform for President Dr. Muizzu to underscore the enduring G2G and B2B cooperation between China and the Maldives. Applauding the strong presence of both Chinese and Maldivian businesses, the President emphasized the robust commercial relations that mirror the countries’ political bonds.
Reflecting on the historical ties between the Maldives and China, dating back to the ancient Maritime Silk Road, President Dr. Muizzu commended China as one of the Maldives’ closest allies and development partners. He highlighted the Maldives’ early participation in President Xi Jinping’s Belt and Road Initiative (BRI) in 2014, leading to significant infrastructure projects that have transformed the nation.
The President further unveiled strategic initiatives aligning with the BRI, including the visionary development of RasMale, an eco-friendly city in the central region, and a focus on renewable energy to meet 33% of power demand by 2028. President Dr. Muizzu announced plans for large-scale projects dedicated to food security, enhanced fish processing capacity, and comprehensive regional development.
Addressing economic diversification, the President introduced the Maldives Industrial Development Free Zone, designed to attract additional income and ensure a stable standard of living. He pledged to intensify efforts to boost visitor numbers, targeting the Chinese market as a key tourism partner.
President Dr. Muizzu outlined ambitious goals, aiming to double the Maldives’ GDP from 6 billion to 12 billion dollars by 2028. He stressed the importance of private sector-led growth, emphasizing the crucial role of foreign investments and access to external financial resources.
In a proactive move to facilitate business, the President assured seamless entry for investors, highlighting recent measures such as one-stop business services, expedited company formation, and the reactivation of the Special Economic Zones framework. A new Companies Act and a forthcoming Foreign Investment Law with enhanced investment security provisions were also announced.
Concluding his address, President Dr. Muizzu expressed gratitude to all delegates, acknowledging the collaborative efforts of his ministers, teams, and the Fujian Provincial People’s Government in organizing the forum. Anticipating future interactions, he emphasized the Maldives’ commitment to strengthening collaboration with China, foreseeing a prosperous future with China’s unwavering support. The Invest Maldives Forum marked the beginning of a new era of bilateral cooperation, promising enduring and mutually beneficial relationships.
