Deepening Investment Partnerships Between the Maldives and China

During the "Invest in the Maldives" forum held in a coastal city in southern China, Maldives President Mohamed Muizzu seeks to win the favor of local officials and strengthen bilateral relations with the Asian giant as the archipelago nation distances itself from India. After the forum in the city of Fuzhou, on Tuesday, Muizzu and his accompanying delegation will meet with Chinese President Xi Jinping and Premier Li Qiang in Beijing during their week-long visit, where agreements spanning infrastructure and tourism are expected to be signed. In Fuzhou, the Chinese city chosen as the launch point for the Maritime Silk Road, Muizzu stated that China remains one of his country's "closest allies and development partners," according to a statement from his office. He added that increasing fish product exports to China under the free trade agreement between the two countries will be a key priority. Data from the American Enterprise Institute for Public Policy Research indicates that Chinese companies have invested $1.37 billion in the Maldives since the country joined the Belt and Road Initiative in 2014. Last year, China National Machinery Industry Corporation invested $140 million in the tourism sector of the Maldives, which represents over a quarter of the country's national income. In 2019, Chinese tourists accounted for 19.7% of foreign visitors, making them the largest tourist group, though they fell to the third position in 2022 during the coronavirus pandemic.