The goal of the project is to increase exports by strengthening institutional capacities to formulate and implement national trade strategies and policies. As a result of these trade strategies, Maldives will be able to realize poverty reduction, inclusive growth and sustainable development.

Results

• To support regional integration, the EIF National Implementation Unit (NIU) is providing technical assistance to facilitate and launch the Free Trade Agreement with China and providing information to public and private stakeholders and negotiation teams to prepare Maldives’ position papers for the negotiation rounds. This bilateral cooperation has paved the way for mobilizing financing for key strategic projects, including the Malé Airport and the Hulhulé-Malé Bridge.

• The NIU supports the Ministry of Economic Development (MED) as a “one-stop” point for the registration of all entities engaging in business in Maldives. The NIU has also supported Invest Maldives, the Government’s investment promotion arm housed in the MED, which is entrusted with promoting foreign investments to the country, with a dedicated website, www.investmaldives.org.

• The NIU team has contributed to the development of a Maldives Doing Business Guide and an Invest Maldives Magazine, which have been widely disseminated at the Maldives Investment Forum and to visiting business, donor and consular delegations.

• Ongoing support has been provided to the management of investment project proposals received under the Special Economic Zones regime, the Government’s development initiative to create infrastructure and facilities, such as ports, airports, warehousing and export processing zones to foster export‑oriented manufacturing and service industries. Through this, funding of US$735,000 was mobilized by the MED from the private sector for the Maldives Investment Forum and Expo Maldives to promote locally made products and services.