Minister of Economic Development and Trade, Mohamed Saeed, announced that the government is committed to expanding opportunities for Maldivian online businesses and creators by providing them access to global online platforms. Speaking at the launch of the Strategy and Fund for Creative Economy, Minister Saeed emphasized that over 400 online businesses are currently operating in the Maldives and could greatly benefit from more prominent visibility and revenue streams through platforms like Google, Amazon, and YouTube.
Saeed stressed the importance of supporting online creators, noting that expanding their presence on global platforms would contribute to the growth of the country's digital economy. He assured that the government is actively working on enabling Maldivians to generate revenue from these platforms by improving access and facilitating cross-border transactions.
"Introducing PayPal services in the Maldives is a significant step in achieving this goal. The President and the government want to see PayPal allowing cross-border transactions for Maldivian businesses and creators. This is something that our creative youth and online entrepreneurs have eagerly awaited," Saeed stated during his speech.
As part of the initiative to foster a creative economy, the ceremony also introduced eight strategic goals and 78 commitments aimed at establishing a vibrant creative sector. Additionally, a creative fund was launched, with Business Centre Corporation (BCC) announcing financial support ranging from MVR 50,000 to MVR 300,000 for local inventors and content creators.
Minister Saeed highlighted that many local productions have the potential to reach international markets, but creators currently lack the necessary access to these global platforms. The Economic Ministry, he said, is working to bridge this gap by providing them with the tools and spaces they need to thrive.
"Although the Maldivian population is small, granting access to these international platforms can establish a digital economy, creating a robust creative industry. The potential is immense," Saeed remarked.
He also pointed out that the Free Trade Agreement (FTA) with China, which comes into effect in January next year, would further ease the export of local products to Chinese markets. This, he said, is another opportunity for local businesses to tap into foreign markets and grow their presence.
Looking ahead, Minister Saeed announced that the government plans to enact a patent and copyright law to protect the intellectual property of Maldivian creators. This legislation would safeguard the rights of artists and entrepreneurs, ensuring they receive fair recognition and compensation for their work.
By promoting innovation and creativity, the government aims to empower Maldivian youth, foster entrepreneurship, and pave the way for a more prosperous digital economy. The creative economy fund is just one step in a broader effort to nurture talent and help Maldivian creators achieve global success.
