President Muizzu Urges Economic Revival for Survival of Small Island Nations at SIDS Conference

President Mohamed Muizzu has underscored the critical need for small island developing states (SIDS) to restore and strengthen their economies for survival, highlighting that economic revitalisation is key to their future. His remarks were made during a SIDS conference held alongside the Summit of the Future, which precedes the 79th session of the United Nations General Assembly (UNGA).

In his address, President Muizzu pointed out that the economies of SIDS nations, including the Maldives, rely heavily on a few key industries, making them vulnerable. He emphasized that only through hard work and increased production capacity can these nations hope to revive their economies and remain resilient in an increasingly unstable global market.

“Reviving the economy is not the exclusive goal. This is critical for us to live in a global economy that is deteriorating with every passing day,” Muizzu said. “To accomplish this, SIDS must increase its production capacities.”

He further called for financial support to alleviate the economic challenges faced by small island nations, urging them to find long-term debt repayment solutions and reduce their financial burdens. Muizzu also stressed the need for SIDS to become financially stable, economically advanced, and resilient to external shocks.

“Our future is based on our own ability to use our human capital, grow our businesses, and implement solutions that reflect the diversity of our island nation,” he added.

President Muizzu is attending the UNGA for the first time and is expected to address the assembly on September 24. He is also scheduled to chair key sessions at the Summit of the Future and hold bilateral and multilateral consultations with global leaders. The President's three-day visit to New York is seen as a pivotal moment in enhancing the Maldives’ global standing and strengthening international ties. He is slated to return on September 29.