The Ministry of Finance and Planning of the Republic of Maldives has officially partnered with the Singapore Cooperation Enterprise (SCE) to boost the governance and performance of its State-Owned Enterprises (SOEs). A Memorandum of Understanding (MoU) was signed today, marking a significant step in enhancing public sector efficiency in the Maldives. The agreement was formalized during the Maldives–Singapore Business Forum 2025. His Excellency Mr. Moosa Zameer, Minister of Finance and Planning, signed on behalf of the Republic of Maldives, while His Excellency Mr. Tay Lian Chew, Deputy Chief Executive Officer of the Singapore Cooperation Enterprise, signed on behalf of the Republic of Singapore. The signing ceremony was held in the presence of His Excellency President Dr. Mohamed Muizzu, as part of his State Visit to Singapore.

The MoU establishes a robust framework for a strong and lasting partnership between the two parties, focused on effective and mutually beneficial cooperation. This collaboration will support the implementation of key programs in the Maldives by leveraging Singapore’s extensive public sector expertise and best practices.

The areas of collaboration will focus on the following key areas:

• Strengthening governance and institutional capacity in the management of State-Owned Enterprises (SOEs);

• Establishing robust performance monitoring and evaluation systems, including the development of Key Performance Indicators (KPIs) and accountability mechanisms for SOEs; and

• Enhancing financial management, operational efficiency, and the adoption of international corporate best practices within SOEs.

This MoU marks a major step in deepening Maldives–Singapore cooperation and reaffirms both nations’ commitment to good governance and public sector excellence.