The ruling Maldivian Democratic Party (MDP) and its allied parties have taken a significant stride towards economic revitalization with the launch of the concluding section of their manifesto, aptly named ‘Igthisaadhee Bodu Badhalu,’ translating to ‘major economic transformation.’ This milestone encompasses visionary proposals, including the establishment of a domestic Export-Import (Exim) Bank and the creation of a sovereign investment fund.
The curtain was raised on this pivotal manifesto chapter during the ‘Zamaanakun Ai Zamaanekey’ campaign event hosted by the MDP at the Social Centre in Male on Thursday evening. Delineated into four distinct sections, this final phase encapsulates the blueprint for an empowered, participatory, financially forward-looking, and resilient economy.
Central to these proposals is the fervent desire to bolster the nation’s economic prowess and intertwine it with the global economy. Anchoring this endeavor is the vision of a local Exim Bank, poised to inject vital financial resources into domestic enterprises embarking on foreign ventures. This landmark measure aspires to catalyze economic expansion while facilitating local companies’ involvement in international projects.
A sovereign investment fund occupies a prominent place within this economic manifesto, aiming to harness the potential of State-Owned Enterprises (SOEs) and strategic assets in the Maldives. Through a sustainable approach, this fund seeks to elevate SOE profitability, enhance management practices, and attract foreign capital for fresh investment endeavors.
Further building on these transformative pillars, the manifesto outlines a roadmap for the Maldives to amplify its presence in the global market. Plans are in place to nurture the nation’s ICT talent and other manufacturers, fostering an environment conducive to the export, marketing, and promotion of Maldivian products overseas. On the international stage, the manifesto pledges the Maldives’ active participation in regional and global trade associations, while concurrently paving pathways for local businesses to access foreign markets. To augment this commitment, the manifesto proposes offering financial and technical support to empower domestic enterprises’ expansion beyond national borders.
As the nation’s leadership rallies behind these far-reaching economic strategies, the stage is set for a paradigm shift that holds the promise of revitalized economic prosperity, global partnerships, and resilient growth.
