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Maldives Seeks Deeper Private Sector Links with Sri Lanka at Colombo ...
The Maldives has sought to position private sector cooperation with Sri Lanka as a key part of its wider economic reform agenda, with President Dr Mohamed Muizzu calling for stronger investment links across infrastructure, tourism, digital innovation and food security. Delivering the keynote address at the Maldives–Sri Lanka Business Forum in Colombo, President Dr Muizzu said the private sector would play a central role in shaping the Maldives’ long-term economic direction. He framed the country’s development plans around Vision 2040, which aims to build a more developed, inclusive and sustainable economy. The President said the government was placing private sector-led growth at the centre of national policy, with reforms intended to improve the business environment, attract investment and support entrepreneurs. He referred to changes to the Foreign Investment Law and Foreign Investment Entry Requirements, which are aimed at providing greater clarity and predictability for investors. President Dr Muizzu also highlighted amendments to the Special Economic Zones Act, presenting them as part of the government’s efforts to prepare the Maldives for a new phase of economic growth. He noted growing investor interest in the Maldives as a digital hub in the Indian Ocean and said the country was seeking to play a more active role in technology-driven development. Sri Lanka was described as an important partner in this wider economic agenda, particularly in tourism, construction and services. The President called for stronger collaboration in infrastructure development, sustainable tourism, digital innovation and food security, while also stressing the need for investment flows in both directions to create a more balanced economic partnership. Minister of Economic Development, Transport and Trade Mohamed Saeed also addressed the forum, describing it as an important step in strengthening economic cooperation between the two countries. He said the administration was focused on fiscal discipline, economic resilience and long-term growth, while continuing infrastructure projects and reforms aimed at reducing the economy’s heavy reliance on tourism. Sri Lankan Prime Minister Dr Harini Amarasuriya also delivered a special address at the forum, noting the continued strengthening of relations between the Maldives and Sri Lanka. The forum included a presentation on Maldives–Sri Lanka bilateral relations and a showcase of investment opportunities in the Maldives, inclu...
Sri Lanka's President calls Maldives a key economic partner as two ...
President Dr Mohamed Muizzu and Sri Lankan President Anura Kumara Dissanayake shake hands following their joint press conference at the Presidential Secretariat in Colombo, as the two nations formalised seven agreements to strengthen bilateral ties. May 4, 2026Dissanayake spoke at a joint press conference in Colombo during President Muizzu’s official visit to Sri Lanka, where both sides signed agreements across seven areas. Sri Lankan President Anura Kumara Dissanayake has described the Maldives as one of his country’s most important economic partners, speaking at a joint press conference in Colombo held during President Dr Mohamed Muizzu’s ongoing official visit to Sri Lanka. Dissanayake pointed out that the Maldives is currently Sri Lanka’s third-largest export destination — a figure he said reflects not just trade statistics, but a relationship rooted in centuries of shared culture and history. While formal diplomatic ties between the two countries officially mark 60 years this year, he noted the connection between their peoples goes back far longer, with cultural and linguistic links forming a strong base for future cooperation. The Sri Lankan President also took a moment to thank the Maldivian government and its people for their help after recent flooding in Sri Lanka. He called the response a clear sign of the warmth between the two nations and personally thanked President Muizzu for the support. Seven areas of formal cooperation agreed Trade & exports, Tourism connectivity, Boat building, Climate change, Maritime security, International platforms and Diplomatic missions. Both sides formalised agreements across seven areas during the visit. Dissanayake also highlighted specific opportunities he sees for the two island nations, particularly in boat building, an industry where he believes shared expertise could benefit both countries. Improving travel links to make it easier for tourists to visit both destinations was another area he flagged as a priority. On regional security, Dissanayake said both countries, as Indian Ocean neighbours, face many of the same challenges and that working together to maintain safety at sea and crack down on illegal maritime activity is essential. Sri Lanka also reaffirmed its commitment to standing by the Maldives on climate change, an issue of existential concern for low-lying island nations. On a practical diplomatic note, Dissanayake said both countries are in the final stages of allocating land to set up High Commi...
Maldives and Sri Lanka ink 7 agreements, including on boosting defense ...
Maldivian President Dr. Mohamed Muizzu and Sri Lankan President Anura Kumara Dissanayake in Colombo, Sri Lanka, on May 4, 2026. (Photo/President's Office) Maldives and Sri Lanka exchanged seven Memoranda of Understanding (MOUs) on Monday, agreeing to boost cooperation across multiple sectors, including defense.
Proposals to Strengthen Economic & Trade Cooperation between Sri Lanka ...
1. Introduction The forthcoming State Visit of the President of the Maldives presents a timely opportunity to enhance bilateral economic cooperation between Sri Lanka and Maldives, particularly in sectors where both countries possess complementary strengths. Sri Lanka is strategically positioned to integrate into Maldives' high-value tourism economy by offering diversified experiences ...
