Maldives and Singapore have signed a Memorandum of Understanding (MoU) to enhance the governance of state-owned enterprises (SOEs) in the Maldives.

The agreement was signed during the Maldives-Singapore Investment Forum, held as part of President Dr Mohamed Muizzu’s ongoing visit to Singapore. Finance Minister Moosa Zameer signed the MoU on behalf of the Maldives, while Deputy CEO represented Singapore Cooperation Enterprise (SCE).

According to the Ministry of Finance, the MoU aims to draw on Singapore’s public sector expertise to implement key governance reforms in the Maldives. The agreement will introduce robust frameworks to monitor and assess the performance and operations of SOEs, ensuring improved transparency and efficiency.

The forum also saw the signing of several other MoUs across various sectors, marking a significant step forward in strengthening bilateral cooperation between the Maldives and Singapore.