The Maldives has a great scope for collaborating with international experts to promote its blue economy, President Ibrahim Mohammed Solih said on Tuesday as the country looks to promote other sectors to reduce its dependence on tourism. Solih said the promotion of the blue economy has a matter of utmost importance for his country. 

The remark came during an event of the Maldives Investment Forum held Tuesday in Dubai. In his keynote, Solih said his government prioritized economic growth through sectoral diversification, environmental sustainability, and the prosperity of the Maldivian societies.

The Maldives, as an archipelago, has always been dependent on the sea for its livelihood and sustenance, he said, adding that the sustainable and effective utilization of its vast marine resources is of utmost importance for Maldivians. 

There was much room to collaborate with international experts to accrue the mutual benefits of promoting a ‘Blue Economy’, he said. 

The sector gained prominence in the Maldives after its economy, heavily reliant on tourism, suffered badly during the pandemic. The country earns 70 percent of total revenue from tourism--a sector that came to a complete halt during the initial months of the pandemic in 2020. 

In 2020, the country’s economy suffered a 30 percent contraction. 

Reminding the world about his energy mission, he said the country would need generous support --in form of funding and technology--from the world community to realize his dream of becoming a net-zero-carbon emission country by 2030.

(SAM)