Author: Mohamed Reehaan
Imports to the Maldives increased by 18% in February 2023, according to the Maldives Customs Service. The total imports to the country during the review month stood at MVR4.2 billion, including fuel. Total imports rose by 20% excluding fuel, which is MVR3.3 billion. However, exports observed a mild drop of 0.9% which is MVR231 million of export commodities. Despite the moderate increment of imports, the customs revenue saw a noticeable albeit slight 8% decline in revenues. Customs authority reported MVR301 million in revenues for the review month. Major Importing Categories Fuel/Marine Gas Oil (diesel, petrol, aviation gas): MVR946 million Food…
State expenditures reach MVR9.9 billion, revenues inclusive of grants hit MVR7.6 billion; in cumulative terms. The overall balance for the period is a deficit of MVR2.4 billion. Revenues Tax Revenues: MVR6.03 billion Non-Tax Revenues: MVR1.51 billion Capital Receipts: MVR1.6 million Grants: MVR16.4 million Top Revenue Streams Tax | TGST: MVR2.4 billion Tax | Corporate Income Tax: MVR834.9 million Tax | GGST: MVR830.2 million Tax | Import Duties: MVR752.8 million Tax | Withholding Tax: MVR298.9 million Tax | Green Tax: MVR229.5 million Non-Tax | Airport Development Fee: MVR219.4 million Tax | Airport Service Charges/Departure Tax: MVR212.8 million Non-Tax | Rent from…
A case of an illegal chemical warehouse operated in a local Male’ City residence has attracted authority attention. The chemical storage unit was discovered from a resident in Galolhu district (next to G. Gaskara Ge) in Lily Magu, central Male’. This is the first reported incident of an illegal chemical warehouse run within the residential area of Male’ City after such warehouses were shifted out to either the Male’ Industrial Village or Thilafushi. While several media brought the issue to the authority attention, Maldives National Defense Force (MNDF) further claimed its Fire and Rescue team have made an initial inspection…
New vehicle parking zones have been drawn in the asphalt-laid portions of the outermost road in Male’ City. This is the first time parking zones have been designated in these portions of the road. The parking zones run between the date palm stands with the capacity of allowing six motorbikes per zone. The zones have been developed on the pavement in front of Marry Brown fast-food outlet. According to Male’ City Mayor Dr. Mohamed Muizzu, the parking zones were created to while ensuring they allowed walking space for pedestrians. The mayor also said that the area had lacked a pavement…
The Maldives government has contracted the Road Development Corporation (RDC) for an MVR102 million road construction project in HA. Ihavandhoo. The Ministry of National Planning, Housing, and Infrastructure signed the contract with RDC on Sunday afternoon. The ministry’s Secretary General Fathimath Shaana Farooq and RDC’s Chief Executive Officer Yaasir Hassan signed the agreement. The government will spend a total of MVR102,846,733.89 on the project. RDC is required to complete the project in one and a half years. Project scope involve laying asphalt on 6.9 kilometers of road, installation of a storm-water drainage system and street lights. This marks the latest…
Villa Hotels and Resorts have rebranded two of its properties; the Paradise Island Resort and the Sun Island Resort. Villa Resorts, owned by the affluent local businessman Qasim Ibrahim, has rebranded Paradise Island Resort to “Villa Nautica at Paradise”; centering the its design and concept to a nautical theme. The other property, Sun Island Resort, has transitioned into a park concept and thus bears the new title of “Villa Park at Sun Island”. While two of its prominent properties have undergone major revamps effective from 01st April 2023, Villa is currently embarked on a corporate identity “facelift”; the proprietor is…
The government of Maldives on Sunday, 02nd April, signed agreements with a Chinese company to develop four regional hospitals in the north and south of the Maldives. The government awarded these projects to the Chinese International Development Corporation Agency in a bid to expedite the hospitals’ development. The Ministry confirmed this without giving away any additional information. Speaking at the signing ceremony, the Minister of Foreign Affairs Abdulla Shahid assured the health sector of the Maldives will commence development without much ado. “We hope that the close relationship between the Maldives and China will continue to strengthen through our efforts…
The Maldives Transport and Contracting Company (MTCC) has formally bid farewell to its last Chief Executive Officer of three years, Adam Azim. The corporation held a formal farewell to celebrate and acknowledge the contributions and dedication of Azim. MTCC stated that Azim’s contribution left an indelible mark on the organization, and added he was an inspiration to all of his colleagues. Though not confirmed if the two are mutually connected, Azim’s exit from MTCC follows hot on the heels of his resignation from the Jumhooree Party (JP); a prominent political party in the Maldives, since he was appointed as the…
Urbanco has begun drawing lots to select eligible buyers from Vinares Flats applicants with equal points. The corporation said that it had filtered the applications, removed all the multiple main or co-applicant forms; meaning more than one form bearing the name of the same individual in either the main or co-applicant column, have been delisted. Urbanco further confirmed it had removed repeat applications from spouses who applied for the flats separately and signed to waive off one of the applications. In addition to this, Urbanco, the former Housing Development Corporation (HDC), said that applicants who waived off their applications and…
The Housing Development Corporation (HDC) has unveiled its new official corporate identity; Urbanco. Urbanco, the former HDC unveiled its new look at the ceremony held to commemorate the company’s 22nd anniversary, held last Saturday, 01st April. The company went through a major rebranding effort which included a corporation wide shift of its new objectives and development. The former HDC removed its previous name plates in favor of the new Urbanco signs, already installed on its headquarters. “We have unveiled our corporation’s new identity as we head towards redefinition and building a world of better tomorrows for the people of Maldives,”…