Economic Minister Mohamed Saeed has said the Maldives is gaining greater recognition in the global investment market as a result of the Government’s sound economic policies.

Speaking at the opening of the SIDS Global Business Network Forum in Malé, Saeed said the Maldives’ transition from the list of least developed countries to a developing country reflects the Government’s focus on economic development.

He said foreign investors are essential to achieving the Maldives’ development goals under President Dr Mohamed Muizzu’s administration.

Saeed highlighted the new Foreign Investment Act, introduced after 45 years, saying it provides a stronger framework for foreign investors while creating greater opportunities for Maldivian small and medium-sized businesses.

He said the Government welcomes foreign investment in areas including the digital economy, financial services, renewable energy, fisheries, tourism, healthcare and education, while ensuring fair opportunities for local businesses.

Saeed also highlighted major private-sector investments, including Google’s Dhivehi submarine cable project and the Island Sustainable Township project in Noonu Atoll.

He added that the growing presence of leading international hospitality brands in the Maldives demonstrates investors’ confidence in the country’s future.