Friday
5th Dec 2025
Dhivehi Edition
Ministry of economic development and trade
20 new sectors to be added to Maldivian-exclusive businesses
Local market in Male’ City
Economic Minister Mohamed Saeed has revealed that the government is preparing to add 20 more business sectors to the list of industries exclusive to Maldivians. The expanded list will be officially announced in early September.
Speaking on PSM's "Raajje Miadhu" program, Saeed said the decision was finalized after extensive consultation with the Cabinet, technical experts, legal advisors, and industry representatives.
“This will be a major step in protecting Maldivian businesses,” he said. “The President personally led efforts to gather input and finalize this list.”
The policy aims to strengthen Maldivian participation in the economy by reserving specific sectors for local ownership only.
In addition to this announcement, Minister Saeed highlighted key government initiatives targeting economic self-sufficiency and food security:
- A new cold storage facility: STO is building a high-tech cold storage center on a 2,000 sq ft plot in the Industrial Village to maintain stable food supplies.
- Affordable essentials: 162 food items have been identified for affordable nationwide distribution.
- Maldives Industrial Development Free Zone: Set up to enhance bulk storage capacity and streamline goods transport.
- China-Maldives Free Trade Agreement: Effective January 1, 2025, enabling imports of new essential goods from China.
- Currency settlement arrangements: Agreements with India and ongoing talks with China to enable direct local currency transactions, reducing reliance on the U.S. dollar.
These measures are part of the broader economic agenda of the Muizzu administration to promote national ownership, economic resilience, and food security.