Maldives signs MoU with Singapore's Corporation Enterprises to improve governance of state-owned enterprises

The Maldivian government has signed a Memorandum of Understanding (MoU) with Singapore’s Corporation Enterprises to improve the management of state-owned enterprises.

The MoU was signed during the Maldives-Singapore Business Forum held in Singapore today. Finance Minister Moosa Zameer signed on behalf of the Maldivian government, while Deputy CEO Tay Lian Chiu represented Singapore Corporation Enterprises.

According to the Finance Ministry, the partnership aims to implement key programs in the Maldives by leveraging Singapore’s expertise in public sector governance and best practices.

The MoU will support efforts to enhance the governance systems of state-owned enterprises, develop performance evaluation frameworks, and establish clear KPIs and accountability systems. It also focuses on strengthening financial management, operational efficiency, and overall business practices.

The agreement coincides with President Dr. Mohamed Muizzu’s state visit to Singapore. An investment deal for the Maldives’ first Special Economic Zone (SEZ) project was also signed during today’s forum.