Green Tax in Focus: Tourism Growth Fuels Fiscal and Environmental Gains
Green Tax Revenue Surges with Tourism Recovery
As of 5 June 2025, the Green Tax has generated MVR 966.3 million, marking an 89% year-on-year increase from MVR 509.9 million in 2024. Introduced in stages since 2015 and recently revised in January 2025, the Green Tax is applied to tourists staying at various accommodations, from...
Everything You Need to Know About Bizweek
Corporate Maldives Bizweek, scheduled to take place from 18 to 19 June 2025, is the ultimate B2B networking event in the Maldives.
With over 5,000 pre-scheduled meetings, the event offers a dynamic two-day experience designed to promote business growth, foster collaboration, and connect professionals with hundreds of potential customers and decision-makers in one place.
Fitch Maintains Maldives’ ‘CC’ Rating
Fitch Ratings has reaffirmed the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CC’ as of 12 June 2025, warning that a sovereign default remains a likely scenario within the foreseeable future.
The agency notes that persistent external and fiscal vulnerabilities are likely to hinder the government’s ability to refinance its substantial upcoming external...
Rip Curl Launches First Hulhumalé Store with Exclusive 40% Opening Discount
Rip Curl Maldives has launched its first retail store in the Greater Malé Region, officially opening its doors in Hulhumalé on 9th June. To mark the occasion, the store is offering a limited-time 40% discount across all products, valid until 9th July 2025.
The new outlet provides surf enthusiasts, beachgoers, and lifestyle shoppers with...
Tourism Revenues Fuel Fiscal Surplus, But Development Spending Falls Short
The Maldivian government has reported a fiscal surplus of MVR 1.1 billion for the year to date as of 5 June 2025, driven by robust revenues—particularly from the tourism sector. However, capital expenditure continues to significantly lag behind projections, highlighting ongoing challenges in executing development projects.
According to the Ministry of Finance’s latest Weekly...
Minister Urges Reforms to Boost State Revenue from Maritime Activities in EEZ
Minister of Transport and Civil Aviation Mohamed Ameen has emphasised the need for the state to benefit more directly from maritime activities taking place within the Maldives' Exclusive Economic Zone (EEZ).
In an interview with Public Service Media (PSM), Minister Ameen noted that various operations—particularly the transfer of oil and gas between vessels—are regularly...
MIFCO Appoints Economist Athif Shakoor as Strategic Consultant
The Maldives Industrial Fisheries Company (MIFCO) has appointed economist Athif Shakoor as a strategic consultant, with effect from 1 June.
Athif has been tasked with leading key strategic changes within the state-run enterprise, as the company works to strengthen its operational and management framework.
He had previously applied for the role...
June 2025 Begins with a Surge: Tourist Arrivals Up 38% in First Nine Days
The Maldives' tourism sector entered June this year with a strong momentum, recording a 38.2% rise in tourist arrivals during the first nine days compared to the same period last year. According to the Ministry of Tourism, the country welcomed 45,614 visitors between June 1st and 9th, up from 32,996 in the corresponding period of 2024.
UN’s Food and Agriculture Organisation to Open Permanent Office in Maldives
The United Nations Food and Agriculture Organization (FAO) will establish a dedicated office in the Maldives, signalling a strengthened commitment to the country’s fisheries sector, a vital component of its economy.
This announcement was confirmed by FAO Director-General Qu Dongyu during a meeting with Ahmed Shiyam, the Maldivian Minister of Fisheries and Ocean Resources,...
Maldives to Allocate USD 291.8 Million to Develop Fisheries Sector
Minister of Fisheries and Ocean Resources Ahmed Shiyam has stated that the Maldives has allocated USD 291.8 million towards the development of its fisheries industry.
Speaking in an interview with PSM News, the minister acknowledged the complex and diverse challenges facing the fisheries sector. He noted that while these challenges have persisted under successive...
President Appoints Ismail Naveen as New Commissioner of Police
President Dr Mohamed Muizzu has appointed Ismail Naveen as the new Commissioner of Police. The official ceremony to present the insignia of office took place this afternoon at the President’s Office.
Before assuming the role of Acting Commissioner of Police on 26 April, Naveen served as the Deputy Commissioner of Police. He stepped into...
Maldives Launches National Ocean Accounts Roadmap at UN Oceans Conference
The Minister of Tourism and Environment, Thoriq Ibrahim, officially launched the National Implementation Roadmap for Ocean Accounts 2025–2030 at the United Nations Oceans Conference (UNOC3), reinforcing the Maldives’ commitment to sustainable ocean development.
Speaking at the high-level side event “Delivering on the 2030 Sustainable Ocean Economy”, co-hosted by the Maldives, Minister Thoriq emphasised the...
Tourism Prices Surge in Q1 2025 as Maldives’ Resort Sector Leads Growth
The Maldives' tourism industry recorded notable momentum in the first quarter of 2025, with the resort sector leading price growth among all major industries tracked in the latest Producer Price Index (PPI) released by the Maldives Bureau of Statistics.
According to the report, the resort sector saw a 15.20% increase in quarterly prices, highlighting...
Maldivian Welcomes Fifth ATR Aircraft as Part of Fleet Expansion and Modernisation
Maldivian, the national airline of the Maldives, has added a fifth ATR aircraft to its growing fleet, reinforcing its commitment to enhancing domestic connectivity and modernising operations. The new addition, a 46-seat ATR 42-600, arrived in the Maldives at 4:00 PM on Saturday.
The aircraft marked its arrival with a ceremonial low pass over...
Australia Issues Travel Advisory for Maldives, Reassures Tourists on Resort Safety
The Australian government has issued a routine update of its travel advice for the Maldives, maintaining its existing caution level while including new references to the potential for civil unrest and the threat of terrorism.
Issued on 5 June 2025, the advisory from the Department of Foreign Affairs and Trade (DFAT) recommended that Australian...
Traditional Fishing Under Pressure as Ocean Temperatures Rise, Says Fisheries Minister
Minister of Fisheries and Ocean Resources Ahmed Shiyam has warned that rising ocean temperatures are placing traditional Maldivian fishing practices under increasing pressure, threatening livelihoods and the long-term sustainability of the fisheries sector.
In a message issued on the occasion of World Oceans Day, the Minister said climate change is altering the migratory behaviour...
Maldives Reaches One Million Tourist Arrivals Earlier Than Ever in 2025
The Maldives marked a significant tourism milestone on Saturday, welcoming its one millionth tourist for the year—its fastest achievement of the figure to date.
Minister of Tourism and Environment, Thoriq Ibrahim, announced the achievement on X, noting that this has been the quickest the Maldives has reached a million tourists and that the country...
Bank of Maldives Signs as Banking Partner for Bizweek 2025
Bank of Maldives (BML) is the Banking Partner of Corporate Maldives for its flagship event “Bizweek” 2025, taking place from 18–19 June 2025.
BML is the largest bank and leading financial institution in the Maldives, playing an instrumental role as a catalyst of growth for local businesses. The Bank has led numerous industry first...
Dhiraagu Unveils “Eid Bolah Gon” Giveaway with Big Tech Prizes
Dhiraagu brings the festive spirit alive with its “Eid Bolah Gon” social media giveaway, offering participants the chance to win exciting prizes, including two DJI drones.
To enter, participants simply need to tag a friend in the comments of the official contest post on Dhiraagu’s Facebook, Instagram, or X accounts. Each valid public comment...
Ooredoo Fun Run 2025 Returns to Addu City – Register by 15 June
Ooredoo Maldives invites runners of all ages to register by 15 June 2025, 23:59 for the Ooredoo Fun Run 2025 – Addu City, a vibrant 5K celebration of fun, fitness, and community spirit.
Set to take place on 27 June, the event promises a festive atmosphere with colourful powder bursts, music, and inflatable stations...
President Muizzu Meets Saudi Leadership During Official Hajj Visit
President Dr Mohamed Muizzu held high-level meetings with senior Saudi officials during his visit to the Kingdom of Saudi Arabia, where he is currently undertaking the Hajj pilgrimage with First Lady Madam Sajidha Mohamed and a high-level delegation. The Government of Saudi Arabia is hosting the delegation in a gesture that underscores the strong and longstanding ties...
State-Owned Enterprises: Strategic Assets or Economic Burdens?
Within the span of a week, President Dr. Mohamed Muizzu established two new state-owned enterprises (SOEs), aiming to address financial and infrastructural needs. However, these moves stand in stark contrast to his earlier efforts to reduce the SOE footprint through mergers and dissolutions. As the number of state-owned entities continues to grow, so do questions about their...
Maldives Reaffirms Commitment to Workers’ Rights and Social Justice at ILO Conference
The Minister of Higher Education, Labour and Skills Development, Dr Ali Haidar Ahmed, has reaffirmed the Maldives’ firm commitment to protecting workers’ rights, promoting social justice, and fostering a sustainable and inclusive labour market.
Speaking at the 113th International Labour Organization (ILO) Conference, Dr Haidar outlined the government’s continued efforts to align national policies...
Maldives and China Sign Agreement to Begin Design of Vilimale’ Friendship Hospital
The Ministry of Construction, Housing and Infrastructure has signed an agreement with the Government of China to commence the design phase of the China-Maldives Friendship Hospital in Vilimale’.
The agreement was formalised on Wednesday through a Letter of Exchange signed by Construction Minister Abdulla Muthalib and the Chinese Ambassador to the Maldives, Kong Xianhua.
LATEST ARTICLES
Green Tax in Focus: Tourism Growth Fuels Fiscal and Environmental Gains
Green Tax Revenue Surges with Tourism Recovery
As of 5 June 2025, the Green Tax has generated MVR 966.3...
Everything You Need to Know About Bizweek
Corporate Maldives Bizweek, scheduled to take place from 18 to 19 June 2025, is the ultimate B2B networking event in the Maldives.
Fitch Maintains Maldives’ ‘CC’ Rating
Fitch Ratings has reaffirmed the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CC’ as of 12 June 2025, warning that a...
Rip Curl Launches First Hulhumalé Store with Exclusive 40% Opening Discount
Rip Curl Maldives has launched its first retail store in the Greater Malé Region, officially opening its doors in Hulhumalé on 9th...
Tourism Revenues Fuel Fiscal Surplus, But Development Spending Falls Short
The Maldivian government has reported a fiscal surplus of MVR 1.1 billion for the year to date as of 5 June 2025,...
