President Muizzu Calls for Stronger Public-Private Partnerships at SIDS Forum

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In a compelling address at the High-level Closing Ceremony of the SIDS Global Business Network (GBN) Forum 2024, President H.E. Dr. Mohamed Muizzu of the Maldives emphasized the pivotal role of the private sector in driving economic development in Small Island Developing States (SIDS). He urged SIDS governments to support entrepreneurs and investors, both local and foreign, by fostering robust public-private partnerships.

President Muizzu commended the insights shared by stakeholders from the private sector, civil society, and international financial institutions. He called for stronger support for the business community, highlighting the necessity of public-private collaborations and trust-building.

In his speech, President Muizzu issued three calls to action:

  • He stressed the importance of making it easier to do business, supporting capacity building, and opening new avenues for financing.
  • He advocated for easier cross-border trade and the protection of intellectual property rights, urging governments to create a regulatory environment that encourages investment, innovation, and sustainable development.
  • He highlighted the crucial role of local enterprises in addressing community needs and enhancing connectivity between businesses and governments.

He cited the Maldives’ initiative to launch a loan facility for women entrepreneurs as a key step towards sustainable development. Muizzu emphasized the urgent need to address issues like climate change, economic vulnerability, and limited resources through swift action. He called for ongoing dialogue between businesses and government agencies to foster knowledge sharing and partnership development. He urged financial institutions to make finance more accessible and affordable, tailored to the private sector’s needs.

President Muizzu concluded by reaffirming that the success of the Antigua and Barbuda Agenda for SIDS depends on strong partnerships between governments and the private sector, aiming for resilient and inclusive prosperity for all.

The event, organized by the Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States (OHRLLS), marked a significant step towards strengthening collaboration and fostering sustainable development in SIDS.

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