Transition to ‘Tradian’ Trade Platform Delayed Until Further Notice
The Ministry of Economic Development and Trade announced today a delay in the full transition to the “Tradian” platform—the Maldives’ first National Single Window system—which will unify trade-related processes, including permits, documentation, and payments, into a single online portal. The transition has been postponed until further notice.
The system was officially launched on April...
Maldives Commits to Digital Development and Regional Collaboration at Asia-Pacific ICT Ministerial Meeting
The Maldives has reaffirmed its commitment to digital development and regional collaboration during the Asia-Pacific ICT Ministerial Meeting held in Tokyo from 30 to 31 May.
Speaking at the summit, Ali Ihusaan, Minister of Homeland Security and Technology, reflected on the progress made since the adoption of the 2019 Singapore Statement, noting that while...
President Establishes Greater Malé Financial District Limited to Drive Economic Innovation
President Dr Mohamed Muizzu announced the formation of a new state-owned enterprise, Greater Malé Financial District Limited, under Article 15 of the Companies Act today.
According to the President’s Office, the company is fully owned by the Government of the Maldives and was created to spearhead the Administration’s economic agenda, focusing on innovation, modernisation,...
April 2025 Economic Update: Moderate Growth, Evolving Tourism Trends, and Rising Inflation
The Maldives' economic performance in the fourth quarter of 2024 and the first quarter of 2025 reflects a period of moderated growth, steady recovery in key sectors, and mounting fiscal and inflationary pressures. Here’s an overview of the latest economic indicators released by the Maldives Monetary Authority (MMA) and the Maldives Bureau of Statistics (MBS).
PCB Announces New Leadership: Ayesha Nur’ain Janah to Head MACL, Ahmed Shaheer to Chair HDC
The Privatisation and Corporatisation Board (PCB) appointed new chairpersons to the boards of two major state-owned enterprises—Maldives Airports Company Ltd (MACL) and Housing Development Corporation (HDC)—on Thursday. Ayesha Nur’ain Janah was appointed as the Chairperson of MACL, and Ahmed Shaheer was appointed as the Chairperson of HDC.
Ayesha previously served as Chairperson of the...
President Muizzu Pledges Written Housing Guarantee for All Eligible Citizens by Year-End
President Dr Mohamed Muizzu has reaffirmed his administration’s commitment to addressing the Maldives’ housing crisis, announcing a bold initiative that will see every Maldivian citizen aged 18 and above—who does not currently own a home—receive a written housing guarantee by the end of 2025.
In an exclusive interview with PSM News, President Muizzu outlined...
Ministry Invites EOIs for Kinbidhoo–Veymandoo Causeway and Elaa Tourism Island Project
The Ministry of Construction, Housing and Infrastructure (MCHI) on Thursday invited Expressions of Interest (EOIs) for a major infrastructure project linking Thaa Atoll Kinbidhoo and Thaa Atoll Veymandoo via a causeway. In addition, the government plans to develop Thaa Atoll Elaa as an integrated tourism island.
According to the gazetted notice, the proposed causeway...
Electricity Bills Set to Drop as New Tariffs Roll Out
President Dr Mohamed Muizzu announced yesterday that he has instructed the relevant authorities to reduce electricity tariff rates for the domestic category, with the changes set to take effect from Sunday, June 1 onwards.
The President shared the new tariff rates in a post on X, outlining that the reduction aims to be implemented...
Dhiraagu Introduces Affordable Roaming Packages for 46 Countries
Dhiraagu has unveiled a new range of affordable roaming packages, offering seamless connectivity for customers travelling to 46 countries. This latest initiative aims to provide flexible and cost-effective options for every type of traveller.
The new packages, priced between MVR 150 and MVR 775, offer varying durations to suit individual travel needs. Available in...
President Establishes New State-Owned Infrastructure Development Company
President Dr Mohamed Muizzu officially established a new state-owned enterprise, Infrastructure Development Solution Company Limited, under Article 15 of the Companies Act yesterday.
According to the notice published in the Government Gazette, the company has been created with the primary goal of accelerating infrastructure development across the Maldives. It aims to deliver construction services...
VP Urges United Global Action on Glacier Loss at International Conference
Vice President Uz Hussain Mohamed Latheef has called for urgent and unified international efforts to address the accelerating loss of glaciers and their wide-reaching implications yesterday. Speaking at the opening session of the High-Level International Conference on the Preservation of Glaciers, he conveyed the Maldives’ deep concern over this growing environmental crisis.
According to...
Eager to Work, Nowhere to Go: A Portrait of Maldivian Youth in Today’s Labour Market
The recent turnout of nearly 1,000 young Maldivians for just 50 entry-level positions at the Maldives Immigration has reignited an ongoing conversation about youth unemployment—a structural issue that continues to cast a long shadow over the nation’s economic prospects.
While the scale of interest may signal high levels of public engagement, it simultaneously serves...
Aséria: Progress and Promise in the Maldives’ First Master-Planned Gated Community
Aséria is quickly taking shape as the Maldives’ most ambitious residential development to date. Set within a secure coastal enclave on the northeastern edge of Hulhumalé Phase II, this first-of-its-kind master-planned community is not only redefining urban living in the island nation, it is also offering an unprecedented opportunity to secure titled land at below-market rates in...
Bank of Maldives Declares Record MVR 55 Dividend as Profits Reach All-Time High
Bank of Maldives (BML) declared a record final dividend of MVR 55 per share for the financial year 2024, following shareholder approval at its Annual General Meeting (AGM) held last night. The total payout amounts to MVR 296 million, the highest in the Bank’s history, reflecting its exceptional financial performance and commitment to delivering value to shareholders,...
Government Receives Only 3.6% of Projected Foreign Grants in First Five Months of 2025
The Ministry of Finance has revealed that the Maldivian government collected just 3.6 percent of its projected foreign grants for 2025 during the first five months of the year.
The government aims to secure MVR 2.6 billion in foreign grants this year, but by the end of May, it had received only MVR 94...
Maldives and UK Hold Second Strategic Dialogue to Deepen Bilateral Ties
The Maldives and the United Kingdom (UK) convened the Second Strategic Dialogue at the Senior Officials level yesterday in Malé.
The Ministry of Foreign Affairs reported that both sides built on the outcomes of the inaugural Strategic Dialogue held in 2023. They reaffirmed their commitment to deepening the Maldives–UK partnership through structured and regular...
Tourism Ministry Hosts Workshop on Mitigation Tracking in Energy and Waste Sectors
The Ministry of Tourism and Environment held a stakeholder workshop yesterday to present and discuss the proposed methodology for tracking mitigation actions in the energy and waste sectors.
The workshop was held under the project “Capacity Strengthening for Improved Transparency of Climate Change Mitigation and Adaptation Actions in the Maldives (CBIT Maldives)”, funded by...
Millions in Unpaid Rent for Hulhumalé Social Housing, Says HDC
The Housing Development Corporation (HDC) has disclosed that millions of Maldivian Rufiyaa remain unpaid by tenants occupying social housing units in Hulhumalé, posing challenges to the corporation’s operational capacity.
According to HDC, all social housing units under its management—comprising units in Phase I of Hulhumalé and the Hiyaa Towers in Phase II—are subject to...
Ooredoo Maldives Wins ‘Telco of the Year – Small Markets’ for Second Year Running
Ooredoo Maldives won Telco of the Year – Small Markets a the Twimbit Telecom Awards 2025 for two years in a row.
This year’s Small Markets category featured intense competition, with strong performances from Dhiraagu (Maldives), DST (Brunei), Bhutan Telecom, and others demonstrating significant progress in performance and customer service.
Ooredoo...
Maldives and Hong Kong Sign Double Tax Agreement to Boost Transparency and Cooperation
The Maldives and Hong Kong signed a Double Tax Agreement (DTA) on Monday during the Asia Initiative meeting, marking a significant step in advancing tax transparency and strengthening bilateral cooperation.
The agreement aims to eliminate the double taxation of income arising from cross-border transactions between businesses in both jurisdictions. It also safeguards taxpayer rights...
Ministry of Economic Development and UNDP Sign MoU to Boost Maldivian Export Development
The Ministry of Economic Development and Trade (MEDT) signed a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) yesterday, marking a significant step towards strengthening export development in the Maldives.
According to a press release issued by the ministry, the partnership aims to address long-standing challenges faced by Maldivian exporters in...
MMA Grants Pre-Operational Approval to Two New Banks to Boost Financial Sector
The Maldives Monetary Authority (MMA) has granted pre-operational approval to two new banking institutions as part of its efforts to strengthen and diversify the Maldivian banking sector. The approvals were issued on 19th May 2025.
Maldives Finance and Leasing Company Pvt Ltd (MFLC) received approval to transition into a Tier 1 bank under the...
Tourism and Environment Ministry Hosts Power BI Training to Boost Climate Data Skills
The Ministry of Tourism and Environment has concluded a one-day training programme focused on climate and energy data visualisation using Microsoft Power BI. The initiative forms part of broader efforts to strengthen climate data transparency and analytical capabilities across the Maldives.
Conducted under the CBIT Maldives Project—Capacity Strengthening for Improved Transparency of Climate Change...
Domestic Prices Decline in April, Led by Drop in Food and Utility Costs
Consumer prices in the Maldives declined for a second consecutive month this year, according to the latest Consumer Price Index (CPI) data released by the Maldives Bureau of Statistics. In April 2025, the consumer prices in the Maldives fell by 0.50 percent compared to March 2025.
In March, a similar consumer price drop was...
LATEST ARTICLES
Transition to ‘Tradian’ Trade Platform Delayed Until Further Notice
The Ministry of Economic Development and Trade announced today a delay in the full transition to the “Tradian” platform—the Maldives’ first National...
Maldives Commits to Digital Development and Regional Collaboration at Asia-Pacific ICT Ministerial Meeting
The Maldives has reaffirmed its commitment to digital development and regional collaboration during the Asia-Pacific ICT Ministerial Meeting held in Tokyo from...
President Establishes Greater Malé Financial District Limited to Drive Economic Innovation
President Dr Mohamed Muizzu announced the formation of a new state-owned enterprise, Greater Malé Financial District Limited, under Article 15 of the...
April 2025 Economic Update: Moderate Growth, Evolving Tourism Trends, and Rising Inflation
The Maldives' economic performance in the fourth quarter of 2024 and the first quarter of 2025 reflects a period of moderated growth,...
PCB Announces New Leadership: Ayesha Nur’ain Janah to Head MACL, Ahmed Shaheer to Chair...
The Privatisation and Corporatisation Board (PCB) appointed new chairpersons to the boards of two major state-owned enterprises—Maldives Airports Company Ltd (MACL) and...
