The Universal Postal Union (UPU) and the Islamic Development Bank (IsDB) have come together to collaborate with Maldives Post in conducting a study aimed at the micro, small and medium enterprise (SME) sector to find a market for SMEs within the postal network and to provide assistance via the digital financing industry.

The Minister of State for Homeland Security, Labor and Technology Dr. Abdulla Nazeer spoke during yesterday's inaugural meeting as a Guest of Honor. Expert team members from the UPU, senior officials from the Ministry of Homeland Security, Labor and Technology, Ministry of Finance and Public Enterprises and Ministry of Economic Development, Transport and Trade, the Chief Executive from the Communication Authority of Maldives, and the Managing Director and senior officials from Maldives Post Limited attended the meeting.

While speaking at the meeting, Dr. Abdulla Nazeer said the full assistance and support from the ministry required to conduct this effort will be made available, and that the ministry will be in charge of establishing the legal and regulatory environment for the effort, connecting the relevant institutions and changing the results of the study into actionable steps.

He said the initiative aligns with President Dr Mohamed Muizzu’s “Maldives 2.0” and “Digital-First Nation” vision.

Nazeer said businesses seeking to reach customers on different islands should not limit their digital presence to setting up online stores. They should also establish systems for payment processing, transportation, document management, customs procedures and reliable delivery.

He said an integrated system should also enable businesses to source and purchase goods needed to fulfil customer orders.

Nazeer went on to say that if those services are not fully available, it is the smallest businesses that have to bear that burden, and that postal services, digital platforms and Islamic financing will be put under one roof via this initiative. 

The ministry that includes the interests of the Maldives Post, Maldives Customs, the Communications Authority of Maldives and Maldives Digital Service will in its capacity play an important coordinating role, said Nazeer.

He continued, stating that the aim, under President Muizzu's Digital-First Nation vision, is for entrepreneurs on any island to be able to build a business, reach new markets and get equal opportunities in sharing in national development. He also spoke on the importance of providing sustainable, equal opportunities for women who work from home, young entrepreneurs, persons with special needs and small businesses.

While highlighting the role of Maldives Post in social and economic development during the meeting, Maldives Post Managing Director Ahmed Shafeeq spoke of Maldives Post's vital, long-standing role as a basic resource in communication for individuals, businesses and connecting Maldives itself and to other nations. He also said that with the swiftly occurring changes to the world's communication system and technology, services and operations are being strengthened and developed in line with the needs of the communication market and the ever-changing needs of customers.

He said digital platforms targeting SMEs, including eTukuri and Community Online Shop, have been established, alongside an online marketplace where manufacturers can buy and sell goods.

Shafeeq said the Global Postal Network could also help manufacturers find markets overseas for their products, adding that efforts were under way to strengthen its role as a trade facilitator.

Maldives Post stated that with the beginning of yesterday's inaugural meeting, technical assistance programs will be composed to aid the MSME sector in light of the discussions held with the relevant policy and regulatory authorities and other stakeholders over a five-day period.

An expert team formed for the study by the Post Office in collaboration with the UPU will be in Maldives from 1st November to 5th November, where they will meet with the government's policy and regulatory authorities and other relevant parties. Discussions will be held regarding the development of MSMEs, and the postal sector's role in facilitating opportunities within the postal network for economic progress and opportunities within the e-commerce industry for the SME sector.

The initiative aims to use the postal network to expand opportunities for MSMEs to access both local and international markets. It also seeks to provide businesses with the support they need to grow by addressing e-commerce, logistics and digital technology challenges, enabling them to reach customers without being constrained by these barriers.

While Maldives Post plays an important role in connecting Maldives to the globe via the postal network, the company said it is their aim to further expand their role as a leading trade facilitator so that Maldivian businesses will have more opportunities to reach international markets and so that conducting business in Maldives is easier within an initiative such as "Prosper MSMEs".