Maldives has signed a Memorandum of Understanding (MoU) with Singapore Corporation Enterprises (SCE) to enhance the governance and efficiency of state-owned enterprises (SOEs) in the country.

The agreement was formalized during the Maldives–Singapore Business Forum held in Singapore today.

Minister of Finance Moosa Zameer signed the MoU on behalf of the Maldivian government, while Deputy CEO Tay Lian Chiu represented Singapore Corporation Enterprises.

According to the Ministry of Finance, the partnership aims to implement key reform programs by drawing on Singapore’s proven expertise in public sector governance and corporate best practices.

The collaboration will focus on three main areas:

- Strengthening institutional governance and capacity in SOE management

- Developing performance monitoring and evaluation frameworks, including Key Performance Indicators (KPIs) and accountability tools

- Improving financial management, operational efficiency, and alignment with international corporate standards

The Finance Ministry described the agreement as a significant milestone in advancing Maldives–Singapore relations and reaffirmed the shared commitment of both nations to uphold good governance and public sector excellence.