The Maldives is prepared to welcome major investments from Saudi Arabia, and the country's participation is desired in the Maldives' efforts to become a developed nation by 2040, President Dr. Mohamed Muizzu stated last night.
Speaking at the function held at Kurumba Maldives to celebrate Saudi Arabia's 96th National Day, the President stated that the Maldives is also ready to formulate the right policies and establish an investment-friendly environment to attract Saudi investments.
He further stated that the Maldives will fulfill the necessary requirements for Saudi businesses and investors to meaningfully participate in completely transforming the Maldivian economy.
"This enduring relationship is strong proof of the trust Saudi Arabia places in the Maldives and of Saudi Arabia's readiness to assist in our development. Looking to the future, we want to build our efforts to become a developed country by the year 2040 upon this strong foundation," President Muizzu stated.
"The Maldives is ready to welcome major investments and development partnerships from Saudi Arabia."
He noted that major opportunities are emerging in the Maldives, highlighting tourism, infrastructure, housing, healthcare, fisheries, renewable energy, logistics, and newly emerging sectors as areas with growth potential in the country.
"We are ready to work together with Saudi Arabia, not merely as a partner that receives assistance in development, but as a partner sharing progress in trade and investments," the President said.
As President Muizzu made these remarks, a major project was proposed in the Maldives by the Saudi royal family during the administration of former President Abdulla Yameen. That project, intended to be implemented in Faafu Atoll, was halted due to criticism and opposition from the political opposition at the time.
President Muizzu highlighted the Charter of Multinational Maritime Defense agreement signed by the Maldives with Saudi Arabia as an important milestone reached in the relations between the two countries.
As an island nation, the Maldives' progress and security are closely tied to the sea, and maritime security is therefore one of the areas to which the Maldives attaches the highest importance, the President also stated.
He also offered prayers wishing the Saudi government and its people lasting peace, continuous progress, prosperity, and success.
