President Muizzu Targets 15% GDP Share for Digital and Creative SMEs

President Dr Mohamed Muizzu has reaffirmed the government's commitment to empowering local entrepreneurs, artisans, and freelancers as part of a national strategy to diversify the Maldivian economy. Speaking on Micro, Small, and Medium Enterprises (MSME) Day, the President asserted that the nation's true economic strength lies in broad participation rather than a reliance on a few large enterprises. Central to this vision is 'Maldives 2.0,' a digitisation drive designed to integrate local producers into global markets. The administration aims to grow the digital and creative sectors to account for 15 per cent of the national GDP, positioning small businesses at the heart of this economic shift. To ensure these opportunities reach beyond the capital, the government is establishing regional cultural centres in Baa atoll Thulhaadhoo, Dhaalu atoll Rin'budhoo, and Gaafu Dhaalu atoll Gadhdhoo. These centres will specifically support heritage entrepreneurs, while a dedicated Creator Hub will be launched in Malé to support the growing community of creative professionals. Strategic infrastructure and international partnerships are also key components of the plan. Following the Addu Business Dialogue, the government is developing the nation's first Trade Acceleration Zone across Addu City, Hulhudhoo, and Meedhoo, with a comprehensive concessions package expected by 2027. Additionally, a partnership with the global e-commerce giant Alibaba under the 'Authentic Maldives' brand now provides local producers with a direct channel to international buyers. Recognising that capital remains a significant hurdle, President Muizzu detailed the expansion of Shariah-compliant financing through the SME Digital initiative. This funding will target working capital, business assets, the creative economy, and women-led enterprises. The President further noted the impact of financial technology, highlighting the Bank of Maldives' SWIPE digital wallet and the recent activation of PayPal integration in the Maldives. With these tools in place, the government has designated 2026 and 2027 as the primary years of focus for accelerating SME advancement across the archipelago.