President Dr Mohamed Muizzu has decided to designate the next two years as a special national implementation period to accelerate the growth and development of Small and Medium-sized Enterprises, reinforcing his administration’s commitment to placing local entrepreneurs at the heart of economic reform.
The decision follows extensive consultations with SME stakeholders and is rooted in the government’s manifesto pledges to strengthen business sustainability, expand opportunities for local investors, and deliver measurable outcomes from ongoing economic initiatives.
According to a social media statement shared by President Muizzu, the policy direction was shaped by concerns and proposals raised by entrepreneurs during the meeting held on December 17, 2025, where business owners outlined persistent challenges related to financing, regulatory procedures, and market access.
Subsequently, the Cabinet last Wednesday endorsed a series of coordinated decisions to operationalise the President’s directive. Ministers undertook detailed deliberations to ensure that the approved measures align with existing SME programmes while enhancing their effectiveness and reach.
Under the plan, a range of targeted incentives, regulatory reforms, and institutional support mechanisms will be rolled out to stimulate enterprise growth and strengthen the overall business ecosystem. Several components of the initiative are scheduled to come into effect from January 1, 2026, underscoring the administration’s focus on timely implementation.
The President confirmed that further details on the approved measures will be announced in phases by relevant authorities as execution begins, signalling a results-driven approach aimed at delivering tangible benefits to entrepreneurs across the Maldives.
The move positions SMEs as a central pillar of President Muizzu’s economic agenda, with the government viewing a vibrant SME sector as essential for job creation, innovation, and long-term national resilience.
