Author: Mohamed Reehaan
Under the vision of Maldives President Dr. Mohamed Muizzu in enhancing the domestic aviation industry and services, the management and operations of Laamu atoll Kadhdhoo Airport has been brought under Regional Airports Company Limited (RACL) effective April 16, 2024. In accordance with the presidential decision, RACL will now become the 100% shareholder of Kadhdhoo Airport; one of the first domestic airports in the Maldives. Earlier on April 11, 2024, Maldives government signed a memorandum of understanding (MoU) with China’s CMCE towards upgrading Kadhdhoo Airport into an international one. RACL reports that is now locked in preparatory works for management takeover…
Minister of Economic Development and Trade Mohamed Saeed reportedly said the Maldives will soon have the option to settle import payments using Chinese renminbi (RMB). Reported by Chinese media Xinhua Net, the confirmation was made by the Maldives minister highlighting the island nation government’s objective to diversify its payment options. Minister Saeed reportedly said that adding an additional currency to settle payments would strengthen the Maldivian Rufiyaa (MVR) against the US Dollar (USD) by 30 to 40% in the coming months. Additional to this, the minister announced plans by the government to introduce prominent e-wallets in the Maldives, including those…
According to the Maldives Fund Management Corporation (MFMC), the Hankede Integrated Tourism Development Project will feature a wide array of real estate establishments. While the groundbreaking ceremony for the project was held by MFMC on Monday, the physical works were officially inaugurated by the Minister of Homeland Security and Technology Ali Ihusan. The first-of-its-kind tourism initiative in the Maldives, Hankede will reportedly feature multiple types of real estate establishments ranging from 2 grand hotels, 2 deluxe hotels, 10 boutique hotels, 4 guesthouses, 64 serviced apartments, and 17 beach villas. This Addu City integrated tourism project will also feature other support…
Maldives state earned a total revenue of MVR 2.94 billion in March 2024, reports the Maldives Inland Revenue Authority (MIRA). From the total earnings for the review month, MIRA said 119.67 million was earned in US dollars. Moreover, the total earnings in March 2024 was up 34.4% compared to the same month in 2023, during which earnings stood at MVR 2.19 billion. MIRA said this increment was mainly due to the increase in the collection of the following income sources; Bank Income Tax TGST Tourism Land Rent Non-resident Withholding Tax Additionally, payments related to the upcoming deadlines of Bank Income…
Maldives Marketing and Public Relations Corporation (MMPRC) along with six industry partners, promoted the breathtaking underwater seascapes of the Maldives in the SouthEast Asia (SEA) market at the ADEX Ocean Mission 2024. This year’s ADEX Ocean Mission was held from April 12 to April 14, at the Suntec Singapore Exhibition and Convention Center, Singapore. With a history spanning 26 years, ADEX is the biggest and longest-running dive expo in Asia, and is considered to be one of the industry’s “must-attend” events. ADEX brings together distinguished VIPs and speakers from across the globe including scientists, marine conservationists, underwater photographers, videographers, and…
Maldives Marketing and Public Relations Corporation (MMPRC) announced the island nation has been awarded 3rd place in the “Best Area Overseas Division” and 2nd place in the “Best Overseas Destination I Want to Visit for the First Time” at the Marine Diving Awards 2023. Marine Dive Fair is Japan’s largest comprehensive diving fair, which has been leading the diving scene in Japan for over 50 years. The Marine Diving Fair is one of Asia’s largest SCUBA diving exhibitions, and the Marine Diving Awards are determined by the online vote for divers across Japan. Rankings are determined after a six-month voting…
The Managing Director of Regional Airports Company Limited (RACL) has stated that development in varying degrees were underway across 19 domestic airports in the Maldives. RACL Managing Director Ahmed Mubeen made the statement while speaking to the public of Faafu atoll Feeali. He is accompanying Maldives President Dr. Mohamed Muizzu, who is currently on a tour of the upper-central atolls ahead of the parliamentary election. While speaking at the rally, Mubeen highlighted that the 19 airports include upgrade works on existing air gateways and new ones. He added that the economical condition of the Maldives would observe improvement upon the…
Maldives Transport and Contracting Company (MTCC) has signed an agreement with the Maldives government to provide speed ferry and Raajje Transport Link (RTL) services for multiple atolls. MTCC said it would be providing speed ferry services between Mulaku atoll and Male’ City, and RTL ferry services at Noonu, Raa, and Baa atolls, as per the agreement. Abdulla Ziyad, the Chief Executive Officer signed the agreement on behalf of MTCC and the Minister of Transport and Civil Aviation Mohamed Ameen signed on behalf of the government. MTCC said it is expanding the state-initiated RTL ferry services to the remaining atolls to…
State Electric Company Limited (STELCO)’s Managing Director Hussain Fahmy on Monday confirmed dispatching a technical team to assist Fenaka Corporation. Fahmy said on X, that an expert technical team of STELCO was dispatched upon Fenaka Corporation’s request to assist them in resolving the power outage issue in Kulhudhuffushi City. The upper northern city experienced a power cut on Monday morning around 09:15hrs. Fenaka Corporation said the outage occurred after three control modules fried due to a transformer malfunction. Earlier, on Monday afternoon Fenaka Corporation also reported that it was working to resolve the power outage in Kulhudhuffushi City and estimated…
Business Center Corporation (BCC) announces an online forum for individuals in creative industries by WIPO. As part of the World Intellectual Property Day 2024, this online forum aimed towards building a “common future with innovation and creativity” is scheduled for April 25, 2024 from 14:30hrs to 17:00hrs. The event is organized by World Intellectual Property Organization (WIPO) in partnership with BCC and endorsed by the Ministry of Economic Development and Trade. The topics slated for this online forum include; Copyright Dimensions in Creative Industries – Making a living from music, arts and literature Branding Dimensions in Creative Industries – What…