President Muizzu Pledges Sweeping Reforms for Small Businesses

MALÉ, Maldives — In a meeting that stretched late into the night, President Dr. Mohammed Muizzu sat with many small and medium business owners, listening to grievances that ranged from customs delays to mounting labour costs. For three hours, the president took notes, asked questions, and promised solutions.

The gathering at the Social Centre was part of a series of sessions President Muizzu has held with citizen groups, but this one carried particular weight: small and medium enterprises form the backbone of the Maldivian economy, and their frustrations have long simmered.

Customs Clearance: From 18 Hours to 24

The loudest complaints came from traders who said delays in clearing goods were costing them dearly. Customs currently operates in shifts covering about 18 hours a day, leaving shipments stranded overnight.

President Muizzu announced that clearance operations would now run round‑the‑clock. “We are doing about 18 hours of clearance work. Instead, we will change the round clock to 24 hours,” he said.

He also addressed air cargo delays. The Maldives Airports Company Limited (MACL) will extend the demurrage period — the time cargo can be held without penalty — from 80 hours to 124 hours. Traders said the shorter window forced them to pay heavy damages, raising costs and threatening their ability to operate.

Relief in Payments to MIRA

Business owners pressed the president on payments to the Maldives Inland Revenue Authority (MIRA). While some concessions already exist, many argued that the system remains burdensome.

President Muizzu promised to explore ways to expand relief. “We will sit down with MIRA and Finance to see if there is anything legally to be looked at. There will certainly be a good solution,” he said.

Government Bills to Be Settled Before Ramadan

Late payments from the government to private businesses have strained cash flow. President Muizzu pledged that outstanding bills would be settled before Ramadan.

“The money to be paid, hopefully, will be paid to quite a few people by the end of this month, within the remaining 15 days, two weeks. We are also looking to clear the remaining amount by Ramadan in January,” he said.

Access to Global Markets Through Alibaba

In a bid to expand opportunities for Maldivian entrepreneurs, President Muizzu announced that vendors registered with Authentic Maldives would now be able to sell their products on Alibaba.com.

“Those who have registered with Authentic Maldives will be able to sell their products on Alibaba today. There are 400 vendors registered with Alibaba. They have now got access,” he said.

The president described the move as part of his government’s manifesto to expand the creative industry and open new markets abroad.

Digital Payments and PayPal Integration

President Muizzu highlighted efforts to modernize payment systems. He said the Bank of Maldives had developed a new service, Swipe, which would function as a Maldivian PayPal. The platform is expected to enter beta testing later this month and will be integrated with foreign networks in the first quarter of next year.

The facility, he said, would allow businesses to receive payments from abroad without additional charges — a crucial step for entrepreneurs seeking to expand internationally.

Land for Warehousing

Business owners also pressed the government to address the shortage of warehouse space. President Muizzu acknowledged the problem and promised to work with the Housing Development Corporation (HDC) and Maldives Ports Limited (MPL) to provide land at low cost.

“And you can rent the land at a low price. Hopefully we will look at how we can give this opportunity in the shortest possible time at a really low rent,” he said.

Quota Fees for Foreign Workers

The cost of hiring foreign workers emerged as another major concern. President Muizzu said he would review the system and look for ways to ease the fees. “We will look at how to minimize the quota fees and reduce the challenges for small businesses,” he said.

A Broader Commitment

Throughout the meeting, President Muizzu emphasized that his government’s policy is to promote businesses and create conditions for growth. He told participants that he would do everything possible within the legal framework, including changes to laws and regulations, to address their concerns.

“I can assure you that I will not let your hopes be wasted. I will try to find solutions,” he said.

The meeting underscored his effort to present the administration as responsive to business concerns while reinforcing its commitment to economic development.