An initiative of the Ministry of Economic Development and a collaborative project with UNDP & Govt of Japan, to assist entrepreneurial efforts in the Maldives

08th July 2021: Business Center Corporation, the national SME development corporation in the Maldives, established under the purview of Ministry of Economic Development, opened the first of its kind co-workspace by the name “Seed by BCC” in Male’ City at M. Kaneeru Villa Building, First Floor. The project is an initiative of Ministry of Economic Development supported by UNDP in the Maldives and the Government of Japan, with digital partnership supported by Dhiraagu Plc.

The facility was officially opened by the Minister of Economic Development, Uz Fayyaz Ibrahim and the event was hosted by the Managing Director of BCC, Ms. Fazleena Fakir.  In attendance were the Head of Economic Cooperation at Embassy of Japan, Ms. Naoko Yuzawa, UNDP Resident Representative ad interim Ms. Vera Hakim, along with senior officials from Ministry of Economic Development and Dhiraagu Plc. 

Emphasizing the importance of small and medium local businesses in their contribution to the GDP and employment creation; and pursuant to the government’s national pledge to provide opportunities for home based workers and small businesses, BCC officially opened the facility to provide the means to obtain affordable workspaces for individuals and businesses with all the amenities of a working environment available. The facility has a wide range of services that can be rented individually or combined, at hourly, weekly and monthly rates specially designed with different working personalities and professions in mind.

The co-working space is especially curated for individuals and businesses in need of creative freedom and comfort and will allow entrepreneurs and inspiring teams to work in an office environment equipped with a wide range of amenities and support services.

UNDP’s Vera Hakim congratulated BCC on the launch of the new co-working space, and thanked the Minister of Economic Development for his leadership in facilitating this innovative space for MSME’s.   Vera also thanked the Government of Japan for the generous support to the realization of the project.  

"We have worked closely with BCC  to support MSMEs - raising awareness, especially during COVID-19 to support fostering entrepreneurship & social innovation, focusing on women, youth and people with disabilities," said Yasmeen Rasheed, UNDP’s Assistance Resident Representative of the Governance Programme at the launch. 

The co-working space is supported by UNDP under the ‘Sustainable Economic Empowerment and Development for SMEs’ (SEEDS) project.