Report: Maldives Sets Sail Towards Economic Diversification with Bunkering Ambitions
The Maldives is charting a new course in its economic journey. In a bold move to diversify its tourism-dependent economy, the government is launching an international bunkering service, positioning itself as a strategic maritime hub in the Indian Ocean. This initiative, led by the State Trading Organisation (STO) in partnership with Vitol, the world’s largest independent energy...
Adapting to Climate Change: Nature-Based Solutions Versus Hard Infrastructure in the Maldives
As highlighted in the Maldives Country Climate and Development Report (CCDR) by the World Bank, the Maldives faces significant challenges from climate change, particularly from rising sea levels, coastal erosion, and ocean warming. To combat these threats, the Maldives must adopt effective climate adaptation strategies. The report presents two primary adaptation approaches: hard infrastructure, such as seawalls...
President Muizzu to Attend 79th UN General Assembly
President Dr Mohamed Muizzu is set to participate in the 79th United Nations General Assembly (UNGA), marking his first appearance at the global forum since assuming office. The President will deliver a statement at the General Assembly and engage in an open debate at the United Nations Security Council (UNSC).
In conjunction with the...
Singapore’s Chi Energie Proposes LNG-Based Power Generation in Maldives
The Ministry of Climate Change, Environment, and Energy has announced that Singapore-based company Chi Energie Private Limited has submitted a proposal to establish a Liquified Natural Gas (LNG)-based power generation network in the Maldives.
According to the ministry, representatives from Chi Energie presented their proposal during a meeting with Minister Thoriq Ibrahim and other...
President Muizzu Ratifies First Amendment to Companies Act
President Dr Mohamed Muizzu has today ratified the first amendment to the Companies Act (Act No. 07/2023), introducing significant changes aimed at expediting corporate procedures and enhancing regulatory compliance in the Maldives.
The amendment was passed by Parliament during its third extraordinary sitting held on Tuesday, 17 September 2024. The revised legislation reduces several...
Maldivians to Require ETA for UK Visits Starting January 2025
The United Kingdom has announced a significant update to its border and immigration system, introducing mandatory Electronic Travel Authorisations (ETA) for visitors from a list of 49 non-European countries and territories, including the Maldives. This change is part of the UK’s initiative to digitise its borders to enhance security and streamline the travel experience.
Maldives Enhances Digital Infrastructure with USD 10 Million World Bank Support
The Minister of State for Homeland Security and Technology, Dr Mohamed Kinaanath, has announced plans to enhance the National Centre for Information Technology (NCIT) and the digital identity card system, Efaas, with assistance from the World Bank. The announcement was made during a press conference detailing the Digital Maldives Adaptation, Decentralisation and Diversification Project, supported by the...
Visit Maldives Showcases Diverse Experiences at IFTM Top Resa 2024 in Paris
The Maldives Marketing and Public Relations Corporation (MMPRC) is presenting the Maldives’ wide array of holiday experiences to the French market at IFTM Top Resa 2024. The event, held from 17th to 19th September in Paris, aims to attract key travel buyers across all trade segments, including business, leisure, and MICE (Meetings, Incentives, Conferences, and Exhibitions).
STO Receives Bunkering Bookings Ahead of Service Launch, Market Set for Expansion
The State Trading Organization (STO) has announced that it is fully prepared to launch its international bunkering service tomorrow and has already secured bookings before the service's debut, signalling strong demand.
In its statement, STO confirmed that all necessary preparations have been completed in collaboration with government agencies. The first vessel to benefit from...
Amendment to Companies Act Passed: Shorter Deadlines for Meetings, Director Appointments
The Maldives' Parliament has passed an amendment to the Companies Act that shortens the deadlines for holding meetings and appointing company directors. The bill was approved with 85 votes during the third special session of Parliament yesterday.
The Government introduced these key amendments with the aim of expediting the appointment of managing directors and...
Maldives Tourism Continues Upward Trend with 2.7% Increase in Early September
The Maldives’ tourism sector maintains steady growth as the first half of September 2024 records a 2.7% increase in tourist arrivals compared to the same period in 2023. From September 1st to 17th, a total of 71,524 tourists visited the country, reflecting sustained interest despite minor fluctuations earlier in the year.
This modest increase...
Maldives to Collaborate with Hollywood to Attract Investors
Minister of Economic Development and Trade Mohamed Saeed has revealed that efforts are underway to collaborate with a Hollywood studio to produce a film highlighting the Maldives, aiming to boost investment opportunities in the country. The announcement was made during a press conference held at the President’s Office yesterday.
Minister Saeed emphasised the government's...
Minister Saeed Announces MVR 100 Million Fund and Creative Economy Roadmap
The Maldivian government has launched a five-year Creative Economy Strategic Action Plan alongside the introduction of a Creative Economy Fund, offering up to MVR 100 million in funding to women entrepreneurs. The initiatives were unveiled by Minister of Economic Development and Trade, Mohamed Saeed, during a special ceremony held at Dharubaaruge on Tuesday evening.
President Muizzu Announces 20-Year National Development Masterplan for the Maldives
President Dr Mohamed Muizzu has unveiled ambitious plans to develop a comprehensive 20-year National Development Masterplan for the Maldives, aiming to steer the nation towards sustainable growth and prosperity. The announcement was made via a publicised video message, following a Cabinet recommendation.
The Masterplan is slated for completion within a year and promises to...
Ooredoo Partners with Villa College for Joint Training Initiatives
Ooredoo Maldives has entered a strategic partnership with Villa College to offer training and internship programs aimed at empowering students in the fields of telecommunications and technology. The initiative seeks to provide Villa College students and alumni with practical experience, mentoring, and opportunities to engage with industry professionals.
“We are thrilled to partner with...
Maldives Economy in Danger as Climate Change Worsens, Says World Bank
The Maldives’ economy, heavily reliant on tourism and fisheries, is at significant risk due to climate change, according to a new report released yesterday by the World Bank Group. The Maldives Country Climate and Development Report (CCDR) highlighted issues such as coastal flooding can damage as much as 3.3% of the nation’s total assets by 2050, with...
Deputy Speaker Calls for Local Appointments to Senior Roles at Bank of Maldives
Deputy Speaker of Parliament, Ahmed Nazim, has called for the appointment of local talent to senior roles at the Bank of Maldives (BML). His remarks were made during an extraordinary parliamentary session held yesterday, where Members of Parliament discussed proposed amendments to the Companies Act.
Nazim raised concerns over the absence of several senior...
Cabinet Secretary Ahmed Ali Habeeb Nominated as New Chairperson of Bank of Maldives
The government has nominated Ahmed Ali Habeeb, the current Cabinet Secretary at the President’s Office, for the role of Chairperson of Bank of Maldives (BML). The nomination comes ahead of the national bank’s Extraordinary General Meeting (EGM), scheduled for 21st September.
According to the agenda published by BML for the upcoming EGM, the government...
Revamping Heritage: Maldives Plans to Turn Historical Assets into Revenue Streams
Maldives Minister of Language, Culture, and Heritage, Adam Naseer Ibrahim, has unveiled plans to convert heritage assets into revenue streams. In a recent interview with state media, Minister Ibrahim explained that a strategic action plan has been developed for this purpose.
"Our goal is to shift the heritage sector's role from mere...
Maldives and Japan Sign Exchange of Notes to Enhance Disaster Resilience in Malé
The Government of Maldives and the Government of Japan signed an Exchange of Notes today for the “Project for Disaster Resilience Enhancement in Malé Island” at a ceremony held at the Ministry of Foreign Affairs. The agreement marks a significant step towards bolstering the Maldives’ ability to withstand natural disasters, particularly rising sea levels, which pose a...
Leasehold Rights of Dholhiyadhoo Island Resort Up for Auction in Maldives
The State Bank of India (SBI) Male’ branch has announced an auction for the leasehold rights of Dholhiyadhoo Island Resort, located in Shaviyani Atoll, Maldives. The auction is open to both Maldivian and foreign bidders, with the reserve price set at USD 15 million.
Details of the Property and Auction Process
Tourism Ministry Updates List of Islands and Lagoons for Tourism Development
The Ministry of Tourism has announced amendments to the list of islands, land plots, and lagoons available for tourism development in the Maldives. Three islands have been removed from the list, while an additional six lagoons and one island have been added, as stated in the Ministry’s latest update.
According to the statement, this...
FTA Will Push Maldives-China Trade to USD 1 Billion, States Spokesperson Heena Waleed
The bilateral trade between the Maldives and China is projected to increase to USD 1 billion per year following the implementation of the Free Trade Agreement (FTA) between the two countries, according to Heena Waleed, the chief spokesperson for the President’s Office. Speaking at a press conference held at the President’s Office on Monday, Heena stated that...
Gov’t Discusses New Regulations for Tourists on Inhabited Islands
The Government of Maldives has commenced discussions to establish regulations governing tourists visiting inhabited islands. The talks were held between the Ministry of Tourism, the Ministry of Cities and Local Government and Public Works, the Ministry of Islamic Affairs, and the Maldives Police Service.
According to the Ministry of Cities and Local Government and...
LATEST ARTICLES
Report: Maldives Sets Sail Towards Economic Diversification with Bunkering Ambitions
The Maldives is charting a new course in its economic journey. In a bold move to diversify its tourism-dependent economy, the government...
Adapting to Climate Change: Nature-Based Solutions Versus Hard Infrastructure in the Maldives
As highlighted in the Maldives Country Climate and Development Report (CCDR) by the World Bank, the Maldives faces significant challenges from climate...
President Muizzu to Attend 79th UN General Assembly
President Dr Mohamed Muizzu is set to participate in the 79th United Nations General Assembly (UNGA), marking his first appearance at the...
Singapore’s Chi Energie Proposes LNG-Based Power Generation in Maldives
The Ministry of Climate Change, Environment, and Energy has announced that Singapore-based company Chi Energie Private Limited has submitted a proposal to...
President Muizzu Ratifies First Amendment to Companies Act
President Dr Mohamed Muizzu has today ratified the first amendment to the Companies Act (Act No. 07/2023), introducing significant changes aimed at...
