Maldives ready to expand economic ties with Saudi Arabia in investment and development: President

President Dr. Mohamed Muizzu has stated that the Maldives is prepared to transition its relationship with Saudi Arabia beyond traditional development assistance, aiming to broaden economic cooperation through increased trade and investment.

The President made these remarks while speaking at a special ceremony organized by the Royal Embassy of Saudi Arabia in the Maldives to commemorate the 96th National Day of Saudi Arabia. The event was attended by the Ambassador of Saudi Arabia to the Maldives, His Excellency Matrek bin Abdullah Al-Ajalin Al-Dousari, along with senior government officials. During the ceremony, the Saudi Ambassador highlighted the long-standing friendship and Islamic solidarity between the two nations, reaffirming the Saudi government's continued support for the development of the Maldives.

In his address, President Muizzu extended National Day greetings to King Salman bin Abdulaziz Al-Saud and Crown Prince Mohammed bin Salman. He emphasized that as the Maldives strives to achieve developed nation status by 2040, the country warmly welcomes Saudi investments to support this strategic goal. The President noted that robust policies are being implemented to create a conducive environment for Saudi entrepreneurs and investors. He identified significant investment opportunities across various sectors, including tourism, infrastructure development, housing, healthcare, fisheries, renewable energy, and logistics.

Furthermore, President Muizzu expressed gratitude for the ongoing assistance provided through the Saudi Fund for Development (SFD) and acknowledged symbolic projects such as the King Salman Mosque. He also noted that recent milestones, including the signing of the Multinational Maritime Defense Charter and the Maldives' participation in the upcoming "Expo 2030" in Riyadh, serve as pivotal steps in elevating the historic partnership between the two countries to new heights.