Gov’t fails to specify direct benefits from business forums held abroad

The government of President Dr. Mohamed Muizzu has failed to specify any direct benefits from the business forums held abroad.

When RaajjeMV inquired at the Ministry of Economic Development and Trade about how many investments have been received so far from the business forums organized by the Maldivian government across several countries, what these investments are, and if any investments have surfaced, what their value is, the ministry did not provide direct answers to any of these questions.

The Ministry of Economic Development and Trade only revealed that "such forums will increase foreign investments in the Maldives." However, they did not clearly specify any increased investments.

President Muizzu's administration has held meetings under the name of business forums in several countries across the globe, especially with Muizzu's participation.

Such meetings have been held across nations like Dubai, Singapore, India, as well as the United Kingdom.

The most recent business forum was held last July in London, United Kingdom. It was said to be the eighth forum held by the current administration so far.

After the most recent forum, the government stated that the forum demonstrated the significance given to strengthening economic ties between the two countries.

While holding such forums in foreign countries is extremely expensive, and the government has not been able to show any investments that have come to the Maldives through such a forum, according to the latest state financial statistics released by the Ministry of Finance, compared to July of last year, grants from foreign well-wishers have decreased by more than half by the end of July 2025.

As the government approaches its two-year mark, the economy is still based on the same sectors that were previously taxed, just as before. The finance ministry's records do not show any new revenue sources contributing additional funds to the state treasury.