“Next year will hopefully be successful for Maldivian entrepreneurs and the economy,” Saeed said speaking at the Transforming Tomorrow event, held to inaugurate key projects by the Housing Development Corporation (HDC).
The upcoming year promises economic growth and a busy period for businesses, Minister of Economic Development and Trade Mohamed Saeed said yesterday.
“Next year will hopefully be successful for Maldivian entrepreneurs and the economy,” Saeed said speaking at the Transforming Tomorrow event, held to inaugurate key projects by the Housing Development Corporation (HDC).
He noted that the government has allocated over MVR 2 billion in next year's budget for major development projects and what he described as a “golden era” for housing.
According to the budget, the economy is projected to grow by six percent.
Saeed expressed confidence in a dynamic economic environment ahead, driven by major projects in housing, partnerships between the private and public sectors, foreign investments, and the establishment of financial centers, agricultural zones, and harbors in northern Maldives.
Reflecting on the past year, the minister said that the condition had been challenging and economically risky, highlighting that only a few construction projects had been undertaken.
“In difficult times, setbacks and obstacles are inevitable,” he said.
“However, history shows that in every situation, businesspeople and the public have rolled up their sleeves and pushed forward, leading to national development.”
Minister Saeed that the economy would reach USD 10 billion by 2028. He said that the new terminal is also expected to be operational by mid 2025.
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