Saeed: Regulatory frameworks needs strengthening to attract foreign investment

Economic Minister Mohamed Saeed, on Sunday, emphasized the importance of strengthening regulatory frameworks and enhancing transparency to attract international investment to island nations.

Speaking at the opening ceremony of the SIDS Global Business Network Forum in the Maldives, Minister Saeed noted that the Maldives attained developing-country status through the consistent implementation of development-oriented policies. He added that the country is now pursuing its goal of becoming a "developed nation," a transition in which investors have a crucial role to play.

In this regard, the Minister stressed the need for robust regulatory frameworks and transparent operations to attract international capital to island economies. He also called for enhanced cooperation among Small Island Developing States (SIDS).

Minister Saeed further highlighted that empowering Maldivian businesses and creating opportunities for their growth remains a key priority of the current administration.

"Foreign Direct Investment is welcomed as a partner in national development. However, it is essential that the benefits of these investments reach our own citizens," the Minister stated.

He added that successful investments in the Maldives to date reflect growing international confidence in small economies. Among the projects he cited were the 'Dhivaru' submarine cable project and the Ayla sustainable township project.

According to Minister Saeed, major investments of this nature have strengthened the Maldives' position as an attractive and increasingly prominent destination in the international investment market.