Minister for Economic Development and Business Affairs Mohamed Saeed
Minister Saeed mentioned that facilitating funds for small businesses aligns with the government's 'Week 14' agenda, with active efforts underway.
He outlined plans for providing loans to small businesses through foreign assistance, including the SME Bank and Business Centre Corporation. Notably, loans ranging from MVR 50 million to 100 million will specifically target women entrepreneurs," the minister highlighted.
Moreover, Minister Saeed emphasized the government's dedication to fostering a new generation of productive entrepreneurs. He announced the upcoming establishment of a 'creator economy' hub, aimed at providing significant opportunities for young entrepreneurs and innovative individuals.
Additionally, plans for a special cash scheme tailored for content creators were unveiled as part of the initiative to develop the creator economy.
Minister noted the presence of a very active black market, contrasting with the official market rate (15.42)
I can assure you that we will try to stabilize the exchange rate this year. We have already started the process
When the current government assumed office, there was an outstanding payment of MVR 7 billion owed to small businesses. However, according to the Economic Development and Commerce Minister, this amount has now been reduced to MVR 3.5 billion
