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VP Hussain Urges Private Sector Engagement for SIDS Development at Commonwealth Business Forum

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Ahmed Shurau

Vice President His Excellency Uz Hussain Mohamed Latheef called for increased private sector engagement in development efforts, emphasizing the need for sustainable collaborations, during his speech at the Commonwealth Business Forum: Island Leaders Round Table. The event was held ahead of the 2024 Commonwealth Heads of Government Meeting (CHOGM) in Samoa.

In his remarks, Vice President Latheef outlined key actions to ensure long-term resilience for Small Island Developing States (SIDS) and foster widespread prosperity. He advocated for creating an enabling environment to attract private sector investment, fostering collaborations focused on sustainability, and strengthening the private sector to facilitate enhanced business-to-business interactions.

Citing the Maldives’ natural beauty and diverse ecosystems, the Vice President acknowledged the country's significant challenges, particularly in addressing climate change and accessing finance. However, he emphasized that the Maldives refuses to be defined by its vulnerabilities. He stressed that SIDS should take charge of their destinies and build resilience on their own terms.

Vice President Latheef also highlighted President Dr. Mohamed Muizzu’s bold and ambitious vision for transforming the Maldives into a developed nation by 2040. He discussed ongoing efforts to diversify the economy, particularly in sectors like ICT, finance, and renewable energy, which are key to the country’s future growth.

Concluding his address, the Vice President called on the Commonwealth business community to partner with the Maldives in its transformative journey toward shared prosperity, noting that private sector engagement is crucial in achieving these ambitious goals.

Vice President Latheef is in Samoa with a high-level government delegation to attend CHOGM 2024, where discussions are expected to center around advancing sustainable development and resilience for SIDS.

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