Economic Development Minister Invites Japanese Investment as Maldives Pushes Economic Diversification

The Maldives' Minister of Economic Development, Transport and trade, Mohamed Saeed, invited Japanese companies to invest across a wide range of non-tourism sectors, citing a new Foreign Investment Act and other reforms designed to make the country more attractive to foreign capital.

Saeed made the remarks in an address to the JETRO-hosted Maldives Business Seminar, held jointly with the Maldives Embassy in Japan, the Ministry of Economic Development, Trade and Transport, JICA, and Maldivian and Japanese business associations.

He said the Maldives is entering "a new phase of economic transformation" under President Dr. Mohamed Muizzu's administration, aimed at diversifying the economy and strengthening its resilience. He said the new Foreign Investment Act has introduced greater transparency, predictability, and efficiency for investors and that broader reforms are making it easier for businesses to establish and expand operations in the country.

Saeed said the Maldives is actively seeking investment in renewable energy, maritime and logistics services, fisheries and food processing, the digital economy, financial services, sustainable infrastructure, healthcare, and high-value manufacturing. He said these sectors offer Japanese companies an opportunity to apply their strengths in technology, engineering, innovation, and quality.

He said the future of Maldives-Japan relations "will be shaped not only by governments but also by the private sector" and praised Japan's small and medium-sized enterprises for their reliability and long-term commitment. He said Invest Maldives and the ministry are ready to support investors "from initial engagement to project implementation."

According to Maldives Monetary Authority data, the economy grew 6.3 percent in real terms in 2025, with nominal per capita GDP reaching approximately 14,600 US dollars, a level consistent with figures separately presented at the seminar by JETRO officials. The Monetary Authority's most recent projection puts 2026 real GDP growth at 5.3 percent.

Minister Saeed closed his remarks by inviting Japanese companies to "become partners in our next chapter of economic growth" and said he hoped the seminar would mark the beginning of increased investment and a stronger economic relationship between the two countries.