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Developed Nation by 2040: President Muizzu Banks on the Strength of MSMEs

By Ahmed Ashraf Published June 27, 2025

In a post on X marking International Micro, Small and Medium-sized Enterprises (MSME) Day, President Dr. Mohamed Muizzu reiterated his administration’s unwavering support for local entrepreneurs, emphasizing their vital role in national economic development and diversification.

Using a social media platform to communicate directly with the public, President Muizzu expressed appreciation for the “entrepreneurs and innovators driving sustainable growth across our islands and around the world.” He highlighted the government’s focus on inclusive financing and enhanced market access, pledging continuous efforts to expand affordable credit and open new commercial opportunities tailored to the needs of MSMEs.

The President also linked these ongoing efforts to the success of Maldives Expo 2025, held from 23 to 31 May in Hulhumalé’s Central Park. He described the expo as a pivotal moment that showcased the resilience and creativity of small business owners. The event, featuring all-day showcases across sectors including digital innovation, creative arts, and marketplace initiatives, served as both a platform and catalyst for enterprise growth.

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President Muizzu reiterated that his administration is dedicated to cultivating an enabling ecosystem where MSMEs can flourish—an essential component of his broader development agenda aiming for economic diversification and developed-nation status by 2040. He called on stakeholders across government and private sectors to continue their collaboration in supporting entrepreneurial ventures critical to the country’s long-term vision.

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“The Standard Maldives” is your premier source for the latest news, insights, and stories from the Maldives. With a commitment to accuracy and independence, we bring you comprehensive coverage of local developments, regional events, and global perspectives that impact our island nation. From breaking news to in-depth analyses, we aim to inform, inspire, and engage. Proudly carrying the tagline, ‘The World’s Window on Maldives,’ we connect the Maldives to the world and the world to the Maldives. Stay informed, stay connected.”

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