Date first published: 15/05/2025
Key sectors: all
Key risks: business risks; economic risks; corruption
Risk development
On 5 May Male, in partnership with the United Arab Emirates-based MBS Global Investments, announced the development of Maldives International Financial Centre (MIFC) – a US$8.8bln project, aimed at establishing a fully sustainable Special Economic Zone (SEZ) in Male, to attract global financial institutions, fintech innovators and digital nomads, and diversify the country’s economy beyond tourism. Key incentives include zero corporate tax, tax-free inheritance and ownership rights in line with the national constitution. Scheduled for completion in 2030, projected revenues are expected to exceed US$1bln within the first five years.
To continue reading, become a member of AKE Community.
