President Calls for SIDS to Be Seen as Hubs of Innovation and Enterprise

President Dr Mohamed Muizzu has called for Small Island Developing States (SIDS) to be recognised as sources of innovation and enterprise rather than being viewed solely through the lens of climate vulnerability.

Speaking as chief guest at the opening of the SIDS Global Business Network (GBN) Forum 2026 and the Island Investment Forum (IIF) in Malé yesterday, the President said vulnerability represented only one part of the SIDS story, with determination forming the other.

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He said island nations had turned limitations into ingenuity, distance into connectivity and challenges into opportunities.

The President said this determination was particularly visible in the private sector, identifying micro, small and medium-sized enterprises (MSMEs) as key drivers of SIDS economies.

He said MSMEs often develop practical solutions to challenges and argued that the small size of island nations could itself offer an advantage, allowing SIDS to serve as laboratories for innovation and incubators for new ideas, technologies and solutions.

President Muizzu also highlighted the growing importance of digital connectivity, describing it as economic infrastructure rather than simply a communications tool. He said digital technology could support trade, financial services, tourism and creative industries.

Through the Maldives 2.0 agenda, he said the Maldives was using technology to address the limitations created by geography and scale.

The President also highlighted domestic initiatives, including targeted financing for start-ups and young entrepreneurs, with support earmarked for women-led businesses. He pointed to the modernised Foreign Investment Act, plans to establish a Trade Acceleration Zone by 2027, and investments in logistics and floating solar energy.

In his closing remarks, President Muizzu called on the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) to develop the GBN into a central platform connecting promising island enterprises with finance, technology, partners and markets.

The President’s remarks received praise from Walton Webson, Antigua and Barbuda’s Permanent Representative to the United Nations, who commended President Muizzu’s advocacy for small island nations and his focus on empowering small businesses.

Rabab Fatima, the UN High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, also praised the Maldives’ efforts in a video message.

She said the meeting in Malé built on progress and outcomes from the SIDS Forum held in Antigua and Barbuda in 2024.

The SIDS GBN Forum 2026 and the inaugural Island Investment Forum are being held in the Maldives from 23 to 25 August, bringing together representatives, businesses, investors and development partners to discuss investment and economic opportunities across small island states.