Minister of Economic Development Mohamed Saeed has announced that the Maldives has secured USD 680 million (MVR 10 billion) in investments for Special Economic Zones (SEZs), marking a significant milestone in the government's economic reform efforts.

Speaking at the Maldives–Singapore Business Forum, held as part of President Dr Mohamed Muizzu’s state visit to Singapore, Minister Saeed revealed that the SEZ investment figure surged following the signing of the Solar City Project the Maldives’ first SEZ initiative.

 highlighting the importance of foreign investment in driving national development.

The Minister noted that when President Dr. Muizzu took office, the country was grappling with high debt and a fragile economy.

Over the past 16 months, however, the government has implemented decisive measures to stabilize the economy and restore investor confidence.

Looking ahead, Minister Saeed outlined bold economic ambitions set by the current administration, including raising the Maldives’ GDP to USD 150 billion by 2028 and increasing per capita income to USD 17,000 by 2030.

He also described Singapore as a vital development partner and commended its investors for their substantial contributions, particularly to the Maldives’ thriving tourism sector.

The forum, which commemorated the 50th anniversary of diplomatic ties between the Maldives and Singapore, brought together prominent business leaders from both nations.

Special awards were presented to individuals and companies in recognition of their role in strengthening bilateral relations.

The SEZ investment portfolio current;y encompasses a wide range of high-priority sectors, including:

- Export-focused manufacturing

 - Transshipment ports, logistics services, bunkering, and docking

- Tertiary hospitals and world-class research facilities

- ICT parks and technology infrastructure

- International finance and trade hubs

- Renewable energy projects

- Food security initiatives

- Gas exploration and innovative technologies