Author: Mohamed Reehaan

The year-to-date total of government expenditure reached MVR12.8 billion as of 13th April 2023, reported the Ministry of Finance. According to the ministry, the cumulative total of revenues by the same review date reached MVR9.8 billion; 75% of the revenues collected to the state came from tax-sources. The overall balance for the period is a deficit of MVR2.98 billion. The year-to-date tax-revenue total by the review date stood at MVR7.3 billion, which is an approximate 1.5 billion improvement from the corresponding period in 2022; during which tax-revenues stood at 5.8 billion. Non-tax revenue total as of 13th April stood at…

The demand for locally popular chili produced in Thaa atoll Kandoodhoo drops as Ramadan heads to a wind up. With nearly two or three left of the Islamic holy month, food preparation or the culinary requirements both in the personal and commercial spaces have begun to fizzle out. The loss in demand, coupled with its naturally shorter shelf life against the now longer hours the produce spends on shelves or isles mean that vendors and businesses have begun discarding large quantities of chilis that have wilted or gone bad. The chili was traded between MVR 80 and MVR 90 per…

The Regional Airports Company Limited (RACL) announced leasing plots near the airport in Gaafu Dhaalu Faresmaathoda for the development of tourist properties. RACL will be announcing lease of 18 plots from the airport vicinity, and said interested parties can submit tenders before 14:00hrs of April 26, 2023. Proponents seeking tender document details will receive the information upon inquiry, said RACL. Guesthouse properties will either provide temporary lodging for transit guests, and full local-tourism experience for budget tourists. The airport venue is located away from the island’s settlement, making the establishment of a local tourism scene close the port an ideal…

The Maldives government has contracted Heavy Force Private Limited with the shore protection project in K. Thulusdhoo. The project launched to alleviate continued soil erosion of the island is mounted on a total cost of MVR 36.1 million. Heavy Force is contracted to complete the project under four months. The Director General of the Ministry of National Planning, Housing and Infrastructure Fathimath Shaana Farooq signed on behalf of the state while the Managing Director of Heavy Force Ibrahim Zameer signed on behalf of the contractor. Project scope; 06 rock-boulder breakwaters: 70 meters each 02 rock-boulder Y-groynes: 50 meters each Rock-boulder…

Maldives State Shipping (MSS) has announced it was preparing to launch shipping operations to Kulhudhuffushi and Addu cities. The state shipping corporation, a subsidiary under State Trading Organization (STO) is now seeking a vessel to launch operations for the new routes. MSS had previously operated a shipping vessel between Addu and Tuticorin, India, launched in October 2020. The operation came to a halt in March 2022 owing to lack of local industry support. During the operational period between Addu and Tuticorin, MSS operated a 4,000-ton capacity vessel whereas the combined total of imports by Addu City entrepreneurs did not exceed…

Tourist arrivals to the Maldives on a year-to-date basis has reached a total of 611,570 as of 16th April 2023, reported the Ministry of Tourism. According to the ministry’s recent statistics, tourist arrivals in annual terms has observed a 19.1% increment compared to the corresponding period in 2022 during which arrivals stood at 513,412. Tourist arrivals reached a total of 172,499 in January; a 30.9% increment compared to the same month last year, in February the arrivals stood at 177,915; a 19.4% increment from February 2022, and in March total arrivals reached 173,514; a 15.1% increment. Meanwhile, tourist arrivals from…

Hideaway Beach Resort & Spa has been received three nominations at the World Travel Awards 2023. The luxury tourist property nestled in the northern Haa Alifu atoll, and regarded as the “epitome of a luxury island sanctuary”, Hideaway Beach Resort & Spa announced that it was “proud to be in the running” for the titles of Maldives Leading Honeymoon Resort 2023, Maldives Leading Beach Resort 2023, and Maldives Leading Luxury Island Resort 2023 at the internationally acclaimed awarding event. The nominations come hot in the heels of the resort’s recent embarkment on a thrilling journey in introducing its “The Signature…

The Maldives government collected a total of MVR 91.9 million in Green Tax for the month of February 2023, reported the Ministry of Finance. Green Tax Collection Breakdown Resorts, guesthouses, and hotels: MVR 89.6 million Liveaboards/Safari Vessels: MVR2.2 million Homestays: MVR321.50 Top Green Tax Contributors – By Atolls Kaafu Atoll: MVR 35.2 million Raa Atoll: MVR 7.4 million Alifu Dhaalu Atoll: MVR 7.04 million Dhaalu Atoll: MVR 6.9 million Alifu Alifu Atoll: MVR 6.4 million Meanwhile, the state has spent MVR 65.9 million out of the Green Fund on various urbanization initiatives across the Maldives. The Green Fund is comprised…

Maldives President Ibrahim Mohamed Solih has appointed Ms Fathimath Salaha as the new Chief Internal Auditor on Thursday last week, 13th April 2023. The Maldives head of state made the appointment under Section 44-2(b) of the Public Finance Act (Act No: 3/2006) at the deputy minister level. Salaha became a member of the Chartered Certified Accountants of the Maldives in 2023 while she been a member of the Association of Chartered Certified Accountants (ACCA) of the UK since 2014. Prior to her current appointment, she served as the Chief Audit Executive at the Ministry of Finance. She had also previously…

The Ministry of Higher Education announced that it has reopened bidding for interested contractors to develop a TIVET Center in Fuvahmulah City. The project part of the current administration’s efforts to establish tertiary academic and training facilities across the Maldives. The ministry confirmed that the TIVET Center project will follow a public-private partnership with the contractor required to fund the project. The center will provide courses in environmental technology, technical and industrial fields along with vocational trainings. The TIVET Center will be developed on a 30,000-square-foot plot leased for 50 years. Besides establishing the center, the ministry said that the…