President Dr Mohamed Muizzu has said that MVR 349 million has been disbursed to small and medium enterprises (SMEs) to date, as the government continues to prioritise support for the sector.
The President made the remarks while delivering the Presidential Statement 2026 at the opening of this year’s parliamentary session on Monday. This marks his third Presidential Statement since assuming office.
Addressing lawmakers, President Muizzu said strengthening SMEs remains a key focus of the administration, noting that targeted financial assistance is being channelled to help businesses expand and remain viable.
He further revealed that the government settled MVR 6.3 billion worth of bills owed to businesses last year, describing the move as part of efforts to ease cash flow constraints faced by the private sector.
The President also identified limited access to online and international payment systems as one of the major barriers hindering SME growth. He said this challenge is now being addressed through the introduction of SWIFT, a locally developed Dhivehi product, which has been launched as an international payment solution.
According to President Muizzu, improving payment infrastructure is expected to enhance business efficiency, expand market access and support long-term growth for Maldivian enterprises.
