The President's inaugural state-level visit to China signals a commitment to fortify the enduring ties between the Maldives and China, setting the stage for a groundbreaking strategic collaboration poised to reshape the nation's economic landscape.
In a historic address at the "Invest Maldives" business gathering in Fuzhou, China, President Mohamed Muizz outlined a visionary roadmap for the economic transformation of the Maldives, highlighting engagement, partnership building, and focused delivery as pivotal elements of his government's agenda. The President's inaugural state-level visit to China signals a commitment to fortify the enduring ties between the Maldives and China, setting the stage for a groundbreaking strategic collaboration poised to reshape the nation's economic landscape.
In President Muizz's address at the Invest Maldives forum, he underscored the transformative impact of the Belt and Road Initiative (BRI) on the Maldives, emphasizing the substantial infrastructure projects aligned with BRI's vision, including plans for the central airport and Commercial Port Project. The President highlighted the significance of the Free Trade Agreement (FTA) between China and the Maldives, particularly its potential to enhance bilateral trade and investments, especially in the export of fish products to China. Furthermore, he invited Chinese investment in the development of RasMale, a sustainable city project, and announced the establishment of the Maldives Industrial Development Free Zone to secure economic diversification and stability.
President Muizz also outlined strategic initiatives for the Maldivian economic landscape, including plans for a top-tier school of hospitality and efforts to regain China's position as the primary market for the Maldives in the post-COVID era. He concluded with assurances to potential investors, highlighting recent reforms that facilitate seamless entry into the Maldivian market, such as one-stop business services, quick company formation, and the reactivation of the Special Economic Zones framework. The President expressed confidence in achieving economic goals with China's steadfast support, aiming for a prosperous future for the Maldives.
Following the discussions hotels at the forum, the two countries signed 20 agreements, which included:
● Belt and Road Corporation and Blue Partnership Agreement
● An agreement to further strengthen bilateral relations
● Blue Economic Cooperation Agreement
● Agreement on cooperation in disaster reduction
● Green Development and Carbon Reduction Agreement
● Agreement on the promotion of the digital sector
● Agreement on the development of the media sector
The Invest Maldives Forum marks the initiation of a new chapter in collaboration between China and the Maldives, propelling the nation toward economic prosperity and realizing ambitious development goals. More details are to be revealed regarding the details of the agreement.
