Minister Saeed Calls for a More Sustainable, Diversified and Knowledge-Driven Maldivian Economy

Minister of Economic Development, Transport and Trade Mohamed Saeed has highlighted the importance of developing a more sustainable, diversified and knowledge-driven economy for the Maldives, stressing that the country’s future prosperity must be built increasingly on knowledge, skills and innovation.

The Minister made the remarks while addressing the opening ceremony of the 10th International Conference on Social Research and Innovation (ICSRI 2026), held on 8 August 2026. The conference was organised by Villa College and its Institute for Research and Innovation (IRI), bringing together academics, researchers, policymakers and professionals to exchange knowledge and perspectives on research, innovation and sustainable development.

Addressing participants, Minister Saeed said the Maldives must look beyond the greater consumption of its limited natural resources and place stronger emphasis on developing its intellectual and human capital. He noted that long-term economic progress would depend on the country’s ability to invest in people, strengthen skills and create an environment that supports innovation and knowledge-based development.

“Future prosperity must be generated not by consuming more natural capital, but by unlocking the limitless potential of our intellectual capital,” Minister Saeed said, highlighting the importance of human capital as a key driver of sustainable economic growth.

Reflecting on the Maldives’ unique environmental and economic circumstances, the Minister said the country’s natural environment remains both a major economic strength and a significant constraint.

“For the Maldives, nature is both our greatest comparative advantage and our greatest economic constraint,” he said, emphasising the need to strike a careful balance between economic development and the sustainable management of natural resources.

Minister Saeed also referred to the Maldives’ traditional pole-and-line tuna fishery as an example of how economic success can be achieved alongside environmental responsibility. He said the traditional fishery continues to demonstrate that commercial success and ecological stewardship can coexist, underlining the value of sustainable practices across the country’s key economic sectors.

Turning to tourism, Minister Saeed stressed that the sector should serve as a foundation for broader economic diversification rather than remain an isolated pillar of the economy.

“Tourism can no longer be simply our largest industry; it must become the platform upon which a more diversified, knowledge-driven economy is built,” he said.

The 10th International Conference on Social Research and Innovation provides a platform for researchers, policymakers and professionals to share ideas, present research and contribute to discussions on innovation, sustainability and social and economic development.