The Ministry is tasked with formulation of economic and trade policies, the regulation of trade and investment in the areas other than tourism related investment, and the economic development of the country through regulation and promotion of trade and investment (other than tourism investment)Immigration and Emigration, Labour, Maritime and Land Transport Sectors.
To create and facilitate the necessary enabling environment to promote commerce and entrepreneurship, attract and promote investments and new industries into the country and achieve the high standards of living expected by all Maldivians; through progressive and inclusive development policies.
Ministry of Economic Development is entrusted with the mandate to develop and promote inclusive and sustainable economic growth to Maldives, through prudent policies and favourable business climate. It is the objective of the Ministry to create opportunities for the growth of enterprises and individuals.
The Ministry has two key roles within its overall portfolio of economic development. That is to provide leadership and coordination within the government’s overall economic policy making process and also provide the necessary policy as well as regulatory environment, to nurture and foster trade, investments and growth to the country.
In carrying out these core roles, the Ministry’s work spans a wide range of areas. The following are the main components.
The Ministry is tasked with the development of economic and investment policies, in consultation with other Government stakeholders; develop commerce and industrial activities in the country; attract and promote investments into the country; regulate imports, exports and re-exports; develop and promote exports and re-exports; register and regulate businesses, companies, partnerships and cooperative societies; develop and promote small and medium enterprises; set and regulate standards in metrology; develop and enforce intellectual property rights; act as the focal point related to all bilateral, regional and multilateral issues related to trade and commerce; set the policies, guidelines and create the necessary legislations and regulations to promote and regulate trade and economic development activities, maritime and land transportation sector, employment, labour and labour related issues and work related to international conventions and covenants already signed or has to be signed, related to the areas where the Ministry has the mandate.