Maldives Sets USD 100 Million Investment Minimum for SEZ Projects
Photo: The President’s Office
The government has introduced a new policy mandating a minimum economic investment of USD 100 million for projects within Special Economic Zones (SEZs).
The policy, published in the official gazette yesterday, outlines specific investment thresholds for various sectors, aiming to attract large-scale initiatives from both local and international investors.
The minimum investment requirement for any economic activity within the SEZ has been set at USD 100 million. This threshold is intended to promote sustainable projects that contribute significantly to economic growth, job creation, and innovation. For sustainable township projects, a higher minimum investment of USD 500 million is mandated, encouraging the development of environmentally responsible and self-sustaining urban areas.
The government has prioritised nine key sectors for investment within the SEZs, focusing on economic diversification and infrastructure enhancement. These sectors include:
- Manufacturing Activities: Investments in export-oriented industries aim to strengthen the country’s export capacity and competitiveness.
- Logistics and Transportation: Infrastructure projects such as transshipment ports, logistics hubs, airports, and bunkering services will support the Maldives’ role as a regional trade hub.
- Healthcare and Education: World-class universities, tertiary hospitals, and research centres are targeted to bolster the nation’s knowledge base and health infrastructure.
- Information and Communication Technology (ICT): Plans for a state-of-the-art ICT park and related facilities seek to position the Maldives as a key player in the global tech sector.
- International Financial Services and Trade: The SEZs aim to create an enabling environment for international business operations, including financial services and trade centres.
- Renewable Energy: Focused investments in renewable energy projects will support sustainable development and reduce reliance on fossil fuels.
- Technology Innovation: The policy prioritises the introduction of cutting-edge technologies to drive future-oriented development.
- Food Security: Initiatives in this sector are intended to ensure a stable and self-sufficient food supply, addressing vulnerabilities in global supply chains.
- Gas Exploration: Investments in this area aim to enhance energy security and diversify the nation’s resource base.
The policy emphasises balanced and sustainable growth, particularly for township development projects, which must dedicate a minimum of USD 500 million to sustainability-focused components. These developments are expected to incorporate modern, eco-friendly technologies while fostering community well-being and elevating living standards in SEZ areas.
By implementing these measures, the government seeks to align SEZ investments with the Maldives’ broader economic and developmental goals, fostering a dynamic and diversified economy.
Gazette link: https://gazette.gov.mv/gazette/7170