President Dr. Mohamed Muizzu said today that the goal is to make the digital and creative economy account for 15 percent of the Maldives' Gross Domestic Product (GDP) by the year 2030.

Speaking at the ceremony held to launch the SIDS Global Business Network Forum in the Maldives, the President said that to achieve this purpose, dedicated centers for historical and cultural craftspeople and creator hubs where artists can develop their work and expand their businesses will be established.

Additionally, he stated that national exhibitions such as 'Maldives Expo' will be held to encourage innovative new ideas and artistry, and to provide opportunities to showcases the skills and products of Maldivian businesses and creators.

Following the great support received for the first Maldives Expo, he noted that the decision has been made to hold the second edition of this exhibition—participated in by businesses and artists from across the Maldives—in October this year.

The President said that in order to promote small and medium enterprises and facilitate necessary benefits for such companies, work is underway to establish the Maldives' first 'Trade Acceleration Zone' before next January.

Noting that facilitating ways for businesses to secure financial assistance, conduct transactions, and easily reach customers is crucial, the President highlighted that work is underway to expand digital financial services for small and medium enterprises, introduce payment solutions including locally produced digital wallets and BML Swipe, and introduce services such as PayPal to the Maldives.

"These are efforts being undertaken to assist our artists, workers, and entrepreneurs," the President said.

As a result of these steps, small and medium enterprises will receive the opportunity to participate in the global digital economy, paving the way to obtain financial assistance quickly, in a modern and easy manner.

According to the President, under the "Maldives 2.0" agenda, work is being done to utilize digital technology to overcome obstacles arising from the Maldives' geography and small population. He stated that the purpose of this is to make government and financial services easily accessible, strengthen businesses, and connect Maldivian producers and skilled individuals with global markets.

He said that the capability for this is already visible through new investments being made in digital infrastructure, stating that Google's investment in the Maldives' submarine cable network demonstrates that island nations can overcome geographical barriers with the help of international technology.

He stated that when looking at Small Island Developing States (SIDS), digital connectivity is not merely a matter of telecommunication, but an economic foundation that facilitates new opportunities for commerce, financial services, tourism, creative industries, education, and employment.

"Therefore, our small size is something that can be turned into an advantage," the President said.

He noted that there are vast opportunities among small island nations to increase investments, strengthen ties, and exchange technology, stating that solutions developed to suit the situation of one island nation can also be used in other countries.

The President said that this will pave the way to expand innovation in markets facing similar challenges.

He noted that the Maldives continuously advocates that small island nations need investments, especially to adapt to environmental changes and build resilience.

"These are sectors that will yield great economic benefits. Therefore, it is a great honor for me that the first-ever 'Island Investment Forum' is held in the Maldives. The Maldives is a country with international investments ranging from various industries to infrastructure development. Both the Maldivian citizens and investors continue to reap benefits from this," the President said.

According to the President, investors and partners ready to move forward with the Maldives are always welcome, and the capital, technology, experience, and market opportunities brought by them will bring sustainable growth to the citizens and the economy.

He stated that governments must build a conducive environment where entrepreneurs can reach success, and financial institutions and investors must further broaden paths to access the funds or capital needed by businesses. Furthermore, technology companies and international businesses must create new markets and networks, while academic institutions and civil society organizations are also parties that play an important role in providing the experience, knowledge, and connections needed in this work.

"Even if our islands are small nations, with thoughtful investments, these countries can be transformed into powerful hubs that give birth to new ideas, innovative products, and new business models needed by the whole world," the President said.

"Therefore, let us make full use of every opportunity received to bring such innovative ideas to the entire world."