President designates next two years for advancing SMEs

President Dr. Mohamed Muizzu, on Sunday, designated the two-year period beginning January 1, 2026, for the implementation of special measures to support the development of small and medium-sized enterprises (SMEs).

In a post on his official X account, the President said that after concerns raised by SME entrepreneurs at a meeting held on December 17th, the cabinet on Wednesday made several decisions to reinforce the implementation of manifesto pledges related to SME development, while also supporting ongoing government initiatives.

He added that relevant government agencies will continue to announce details of further initiatives to be rolled out during the designated period.

"In this regard, the next two years have been designated for the implementation of special measures for the advancement of small and medium-sized enterprises," the President said in his post, adding that these measures will be implemented starting next year. 

ކުދި އަދި މެދު ފަންތީގެ ވިޔަފާރީގެ ދާއިރާގެ ވިޔަފާރިވެރިންނާއެކު 17 ޑިސެންބަރު 2025 ގައި ބޭއްވުނު ބައްދަލުވުމުގައި ވިޔަފާރިވެރިން ފާހަގަކުރެއްވި ކަންކަމުގެ އަލީގައި، އެ ދާއިރާ ކުރިއެރުވުމަށް މެނިފެސްޓޯގައި ކަނޑައަޅާފައިވާ ކަންކަމާއި ސަރުކާރުން އެ ދާއިރާއާއި ގުޅޭގޮތުން ކުރިޔަށް…

— Dr Mohamed Muizzu (@MMuizzu) December 28, 2025

At the meeting with SME entrepreneurs, the President reviewed the proposals presented and announced two major decisions: extending the demurrage-free period for imported goods from 80 hours to 124 hours, and introducing 24-hour goods clearance services.

Accordingly, the Maldives Customs Service began 24-hour goods clearance operations on December 25^th.

The business community has raised concerns over several government decisions this year. This includes delays in pending payments to private businesses, including bills from the previous administration, leading to financial strain and bankruptcies.  

It is unclear how much debt the government owes to private businesses.

However, during December 17^th‘s meeting, President Muizzu assured that the pending dues will be settled before next Ramadan – the third date provided in this regard, the first being before last Ramadan.