Male, Maldives – In a comprehensive policy update marking Micro, Small and Medium-sized Enterprises (MSME) Day, President Dr. Mohamed Muizzu unveiled a strategic roadmap to diversify the Maldivian economy. The plan focuses on empowering local entrepreneurs, pioneering exclusive halal tourism zones, and bridging regional gaps through the Raajje Transport Link (RTL).
Empowering MSMEs and Economic Diversification
President Muizzu emphasized that MSMEs are the backbone of the Maldives' goal to become a developed nation by 2040. Building on the momentum of Maldives Expo 2025, the administration is prioritizing:
- Inclusive Financing: Breaking down barriers for small business loans.
- Market Access: Creating platforms for local products to reach global audiences.
- Sustainable Growth: Fostering an ecosystem where startups drive economic diversification beyond traditional sectors.
"My administration remains steadfast in creating an environment where MSMEs thrive, contributing significantly to our economic diversification," the President stated.
Expanding Tourism to Underserved Atolls
A key pillar of the President’s manifesto is the "regional equity" of the tourism industry. To unlock the potential of the entire archipelago, the government will provide targeted concessions and infrastructure investments in previously underserved areas, including:
Northern Atolls: Haa Alif, Haa Dhaalu, and Shaviyani.
Southern Atolls: Thaa, Laamu, and Addu City.
The strategy involves a multi-pronged approach using investor incentives and focused marketing to catalyze economic activity in these specific regions.
A New Era: Exclusive Halal Tourism Islands
In a significant move to diversify the Maldives' travel portfolio, President Muizzu announced the designation of specific islands exclusively for Halal tourism development.
While the Maldives has always been a Muslim-friendly destination, this dedicated "Halal-exclusive" model is designed to attract high-value investors and travelers seeking specialized services. The government is expected to release a detailed framework of incentives for these developments within the coming week.
Strengthening Regional Connectivity via RTL
The President’s vision for economic growth is underpinned by the rapid expansion of the Raajje Transport Link (RTL). Reliable connectivity is essential for MSMEs to transport goods and for tourists to reach remote atolls.
Current Progress: On June 26, 2025, MTCC successfully launched high-speed ferry services in Raa Atoll, marking the 10th atoll to join the network.
Next Phase: Expansion into Baa Atoll is scheduled to be completed by the end of July 2025.
Summary of National Objectives