Mohamed Saeed has clarified that international franchises in the Maldives will continue to operate under strict existing regulations, despite the implementation of the Maldives-China Free Trade Agreement.
Speaking in Parliament, Saeed said the restaurant sector remains reserved for Maldivian citizens, addressing concerns raised by MP Ameen Faisal over potential access for Chinese businesses.
He explained that while foreign franchises are allowed, they can only operate under specific conditions, such as within resorts and airport areas, and not in the broader local market.
The minister added that these arrangements existed before the trade agreement and are not a direct result of it.
Saeed also noted that the FTA offers new opportunities for Maldivian businesses to enter the Chinese market, while acknowledging that some sectors are facing early challenges as the agreement takes effect.
He said the government is working with the private sector to address these issues during the transition period.
