MALDIVES UNDERTAKES REFORMS TO ATTRACT INVESTORS – PRESIDENT

KUALA LUMPUR, April 28 (Bernama) -- The Maldives is inviting Malaysian companies to explore new investment opportunities in strategic sectors, following significant legal reforms aimed at attracting foreign investors.

Maldives President Dr Mohamed Muizzu said that among the key initiatives was the enactment of a new Foreign Investment Law in December 2024.

“The new legislation, aligned with international best practices, ensures robust investor protection, transparency, and predictability while giving legal force to both bilateral and multilateral investment treaties.

"This is not merely a legislative reform. It is a clear signal that the Maldives is serious about welcoming the world’s best partners on trusted, solid grounds," he said at the Maldives-Malaysia Business Forum 2025 here today.

Highlighting Malaysia's global competitiveness and strong commitment to sustainable development, Muizzu said there was tremendous potential for Malaysian companies to contribute meaningfully to the Maldives’ growth story while unlocking real value in return.

“Sectors that may attract investors include real estate, tourism, logistics, renewable energy, and Special Economic Zones (SEZs).

"Our revitalised SEZs offer incentives designed to attract forward-looking investors, and our renewable energy initiatives align with the global shift towards sustainability," he said.

Muizzu added that the Maldives’ strategic location along key shipping routes and its thriving tourism sector present significant opportunities for Malaysian businesses seeking expansion into the maritime and logistics sectors.

The Maldives president is on his first official visit to Malaysia lasting four days, since assuming the presidency in November 2023, at the invitation of the Malaysian Prime Minister Datuk Seri Anwar Ibrahim.

Anwar was also present at the event, where he delivered a keynote address.

In 2024, Malaysia’s total trade with the Maldives increased by 4.3 per cent to US$189 million (RM862.7 million) from US$180.9 million (RM827.3 million) in 2023, making the archipelagic nation Malaysia’s sixth-largest trading partner among South Asian countries.

-- BERNAMA