Minister of Economic Development and Trade Mohamed Saeed has revealed that an investment of USD 680 million which is approximately MVR 10 billion has been secured for the Maldives.

The economic minister made this statement while speaking at the Maldives-Singapore Business Forum conducted in Singapore. Minister Saeed said that this investment has been secured as a Special Economic Zone (SEZ) investment.

On Tuesday, Saeed said that over the past 16 months, robust measures have been taken to help the Maldives recover from debt. The minister also stated that the goal is to bring in USD one billion in investments to the Maldives within these five years.

Saeed also said that the signing of the Solar City project at the Maldives-Singapore Business Forum is a progress for the SEZ. The Maldives’ minister stated that the aim is to increase the Maldives' GDP to 150 billion by 2028 and to increase the per capita income in the Maldives to USD 17,000.

The first investment of the SEZ project was signed at the forum. This is an investment of USD 187 million.