Maldives Industry Chamber Welcomes President’s Measures to Support SMEs

Male’, Dec 29, 2025 — The Maldives Industry Chamber (MIC) has welcomed a set of government measures aimed at easing operational pressures on small and medium enterprises, calling the reforms a “decisive step” for local businesses.

The chamber’s comments follow an announcement by President Dr Mohamed Muizzu that several proposals raised by SME owners during a meeting earlier this month will begin to be implemented from 1 January. The president said the Cabinet had discussed the issues and agreed on actions intended to improve the outcomes of initiatives in the sector.

A key change highlighted was an extension of the demurrage-free period for air-freighted goods from 80 hours to 124 hours, a move sought by traders who have cited high clearance costs and delays. MIC said the adjustment would reduce financial strain on import-dependent businesses.

The chamber also welcomed commitments to address concerns raised by business operators related to vehicle registration for commercial use, port unloading delays, and the need for clearer regulatory frameworks for guesthouses.

Interim MIC President Ali Fauzy said the speed of the government’s response signaled strong support for SMEs.

“The President’s decision to act swiftly on the concerns raised by SMEs demonstrates a genuine commitment to strengthening the backbone of our economy,” Fauzy said, adding that the measures could provide “immediate relief” to businesses across the Maldives. He said MIC was ready to work with the government to ensure the changes lead to lasting improvements for entrepreneurs.

MIC also pointed to the government’s plan to treat the next two years as a period of special concessions for small businesses, describing it as a critical opportunity to rebuild confidence, stimulate innovation and encourage new entrants to the market.

Economic Minister Mohamed Saeed was quoted in the statement as describing the period as “two years of special concessions for small businesses,” with reforms expected to bring “great convenience and satisfaction for both small businesses and new entrepreneurs.”

MIC said it would continue engaging with policymakers to support a more competitive and transparent business environment, adding that President Muizzu had pledged to maintain regular engagement with the chamber through future meetings as needed.