President Dr. Mohamed Muizzu has issued a Presidential Decree establishing the economic activities permitted within the Maldives’ Special Economic Zones (SEZs) and setting minimum investment thresholds as required under the Special Economic Zones Act.
The decree outlines two investment tiers within SEZs: a minimum investment of USD 100 million for strategic projects and USD 500 million for sustainable township development initiatives.
Strategic Investments
The decree defines nine key categories of investments eligible for the USD 100 million threshold:
a) Export-oriented manufacturing activities
b) Transshipment ports, international logistics hubs, ports, airports, bulk breaking, bunkering, and docking services
c) Universities, tertiary hospitals, specialty hospitals, and world-class research and development centers
d) World-class Information Communication Technology (ICT) parks and related facilities
e) International financial services and global trade centers
f) Renewable energy projects
g) Introduction of new technologies not currently available in the Maldives
h) Food security-related projects
i) Gas exploration activities
Sustainable Township Development Projects
For township development projects, the decree mandates a minimum investment of USD 500 million, specifically allocated to sustainable urban development components. These projects are expected to incorporate environmentally friendly designs and contribute to long-term economic and social resilience.
The Special Economic Zones framework aims to attract large-scale foreign investments, diversify the economy, and establish the Maldives as a regional hub for innovation and international trade. By setting clear investment categories and thresholds, the administration seeks to provide clarity for potential investors and promote sustainable economic growth.
