President Muizzu Pledges Policy Revisions to Boost Opportunities for Local Firms in Development Projects

In a significant move towards promoting local businesses and fostering the growth of the Maldivian construction sector, President Dr. Mohamed Muizzu has pledged to revise policies and amend regulations to create more opportunities for local firms in developmental projects. Speaking at the Builders Awards ceremony organized by the Maldives Association of Construction Industry (MACI), President Muizzu emphasized the importance of breaking the monopoly of foreign contractors in the country's urban development and construction sector.
Acknowledging the pivotal role played by the construction industry in the economic development of the Maldives, President Muizzu assured the audience that the government is committed to revitalizing the sovereignty and national identity of the nation. He expressed a willingness to make necessary amendments to laws and regulations, as well as revising awarding policies, with the input and feedback of industry stakeholders.
"If we need to make amendments to the laws and regulations, we will reform them with your advice and feedback. If we need to revise the awarding policies, we will make the necessary changes to them as well," stated President Muizzu during his address.
The President underscored the government's focus on providing comprehensive freedom for Maldivian citizens, promising to enhance opportunities for growth and prosperity for local companies and professionals in alignment with this stance.
In addition to advocating for the participation of local firms in developmental projects, President Muizzu emphasized the importance of creating an inclusive construction industry. He pledged collaboration with the Maldives National Association of Construction Industry (MACI), relevant government bodies, and stakeholders to seek employment opportunities for women and persons with disabilities in the construction sector.
As part of the commitment to inclusivity, President Muizzu highlighted the Fushidhiggaru Falhu reclamation project for the development of the RasMalé eco-city. He assured the involvement of the Maldivian construction sector in this mega project, signaling a new era of opportunities and growth for local businesses in the country's developmental landscape.