President Dr. Mohamed Muizzu announced that the digital economy is projected to account for 15% of the Maldives' GDP by 2030, emphasizing the government's commitment to promoting digital transformation during his address at the 79th General Assembly of the United Nations.
In his speech, President Muizzu detailed the efforts underway to bolster the digital economy in the Maldives, including the introduction of 5G technology applications, such as drones for delivering medical supplies and artificial intelligence for erosion detection and environmental monitoring. He stressed that achieving sustainable change necessitates transforming education and financial systems, investing in digital education from a young age, bridging the digital divide, and strengthening regulatory frameworks.
He noted that the Development Bank of Maldives was established last May as part of the effort to address these challenges. "To do that, we must strengthen regulatory frameworks, develop start-up ecosystems, and bolster existing institutions to provide the necessary impetus for the future we hope for," President Muizzu said.
The President articulated his vision for the Maldives to become a fully developed nation by 2040, aiming to rank among the highest echelons of development. He highlighted that achieving this ambitious goal requires increased productivity, digital transformation, and leveraging the country's natural beauty and marine resources.
To support this vision, President Muizzu announced plans to enhance productivity through institutional reforms, improve ICT infrastructure, and increase digital literacy. He also emphasized the need to empower women in public office and introduced the Presidential Youth Advisory Board to gain insights into the needs of young people.
Additionally, the President outlined initiatives to advance the tourism sector through innovation and creativity, including plans for the expansion of the main international airport. To further facilitate economic growth, a $6.5 million loan facility has been launched, which will support over 100 projects and 21 business activities across 19 out of 20 provinces and the city.
President Muizzu's remarks reflect a comprehensive strategy to leverage digital transformation for inclusive development, aiming to ensure equality of opportunities and adequate housing for every citizen in the Maldives.
In his speech, President Muizzu detailed the efforts underway to bolster the digital economy in the Maldives, including the introduction of 5G technology applications, such as drones for delivering medical supplies and artificial intelligence for erosion detection and environmental monitoring. He stressed that achieving sustainable change necessitates transforming education and financial systems, investing in digital education from a young age, bridging the digital divide, and strengthening regulatory frameworks.
He noted that the Development Bank of Maldives was established last May as part of the effort to address these challenges. "To do that, we must strengthen regulatory frameworks, develop start-up ecosystems, and bolster existing institutions to provide the necessary impetus for the future we hope for," President Muizzu said.
The President articulated his vision for the Maldives to become a fully developed nation by 2040, aiming to rank among the highest echelons of development. He highlighted that achieving this ambitious goal requires increased productivity, digital transformation, and leveraging the country's natural beauty and marine resources.
To support this vision, President Muizzu announced plans to enhance productivity through institutional reforms, improve ICT infrastructure, and increase digital literacy. He also emphasized the need to empower women in public office and introduced the Presidential Youth Advisory Board to gain insights into the needs of young people.
Additionally, the President outlined initiatives to advance the tourism sector through innovation and creativity, including plans for the expansion of the main international airport. To further facilitate economic growth, a $6.5 million loan facility has been launched, which will support over 100 projects and 21 business activities across 19 out of 20 provinces and the city.
President Muizzu's remarks reflect a comprehensive strategy to leverage digital transformation for inclusive development, aiming to ensure equality of opportunities and adequate housing for every citizen in the Maldives.
