Author: Mohamed Reehaan

Tourist arrivals to the Maldives exceed 1.15 million as of 21st September, says Ministry of Tourism. According to the state body, tourist arrival total as of the review date stood at 1,157,183. This marks a 37.7% annual increase when compared with the same period in 2021. Tourist arrivals in annual terms for the corresponding period last year stood at 840,099. Despite this strong improvement, tourist arrivals were still 4.7% below pre-pandemic levels in 2019. For the same period in 2019, tourist arrivals stood at 1,214,462. Source market ranking remains unchanged. Details are as follows; India – 163,717 Russia – 137,501…

President Ibrahim Mohamed Solih on Wednesday, 21st September, ratified the seventh amendment to the Maldives Employment Act (2/2008). The amendment was passed by Maldives parliament on Wednesday, 21st September, at the 16th sitting of the parliament’s third session this year. The amendment stipulates that the Minister of Economic Development, upon recommendation from the Minimum Wage Advisory Board must announce a date of implementation of minimum wages for expatriate workers. This implementation must reflect the economic situation, self-sufficiency and productivity of the country. The minimum wage for expatriates have been postponed for an indefinite period, in light current global economic conditions.…

State revenue and grants for July 2022 stood at MVR3.03 billion, observing a 174.5% increment compared to same month last year. In July 2021, total revenue and grants to the state stood at MVR1.1 billion, reports Ministry of Finance. According to Ministry of Finance, in its recent Monthly Fiscal Developments, the significant proportion of the relative increase is owed to income tax deadline coinciding with July. On the other hand, total expenditure for the month increased by 12.6% compared to the same month in 2021. Capital expenditure increased by 1.4% and recurrent expenditure by 18.2%. Fiscal balance exclusively for the…

The cumulative total of state expenses reach MVR25.6 billion as of 15th September, reports Ministry of Finance. On the hand, state revenues reach MVR19.4 billion by the review date. State spent 73% of the budget on recurrent expenses so far in 2022, while 27% was spent on capital expenditure. Meanwhile, state earned 74% of its revenue from tax sources and remaining 26% from non-tax sources. The overall balance for the period is a deficit of MVR6.2 billion. Cumulative total of tax revenues as of 15th September stood at MVR14.2 billion. For the same period last year, it was at MVR9.6…

Chief Executive of Maldives Transport and Contracting Company (MTCC) Adam Azim stated Raajje Transport Link (RTL) broke the previous limitations of public transportation. While speaking at the officiating ceremony for Sh. Maaungoodhoo harbor development project, Azim said the citizens have been “saved from the cages” they were in. Furthermore, Azim confirms of efforts in place to address public complaints over the RTL system. “I have noticed some citizens have difficulties in purchasing tickets… but we have noted that the service is easily accessible to all for most parts,” Azim said. Earlier, MTCC launched their mini-bus services in Male’ City on…

The most recent amendment to Tourism Act of Maldives was approved by the parliament. Parliament approved the latest bill, following the earlier mishap resulting in a legal blockade on green tax collection. The assessment report of the bill was approved with the unanimous vote of all 50 MPs partaking in the session. Green Tax will be effective upon presidential ratification of the bill. In the previous amendment, the date of effect for Green Tax collection was written as 2023 by error. This resulted in a legal halt on tourist properties from collecting the tax, though properties continued to levy it.

International bunkering services for large sea carriers will launch in 2022, according to Minister of Transport Aishath Nahula. The service will launch at Haa Alif atoll Ihavandhippolhu. According to the minister, project contractors are currently developing fuel storage units for bunkering. The minister made the confirmation at the opening ceremony of Maritime Safety Week. She further noted frequency of international carriers increased post the Covid-19 pandemic. Meanwhile, current works include arranging funds for the bunkering operations, procurement of equipment. Additionally, the ministry is overseeing the draft of necessary legal framework ahead of the operation.

The opening ceremony to commence physical work of Shaviyani atoll Maaungoodhoo harbor development project, was held on Tuesday, 20th September 2022. The work on the project was officiated by Sh. Funadhoo MP Mohamed Shahi Ali along with Maaungoodhoo council president Adam Saleem. The two were joined by Chief Executive of Maldives Transport and Contracting Company (MTCC) Adam Azim in officiating the project. According to MTCC, the project contractor, harbor development in the island aims to solve logistical issues along with berthing and mooring difficulties for vessels. Project components include; New harbor basin dredging: 59,013.29 cubic-meters Harbor channel dredging: 3245.48 cubic-meters…

Housing Development Corporation (HDC) has reported of receiving over 1,400 interested applicants to buy newly developed Vinares housing flats. The flats, developed at Hulhumale’ Phase II, come in semi-luxury to luxury standards. Aimed at solving housing issues faced within the Greater Male’ region, a total of 1,344 apartments are distributed in 10 housing towers. Going at a starting price of MVR2.5 million to a maximum of MVR3 million, the apartments measure between 883 square-feet to 902 square-feet. The high-tier apartments come with three bedrooms with attached toilets. Applicants are assessed on their current living conditions, which is the basis of…

According to the most recent update from Ministry of Finance, state’s total Covid-19 spending is at MVR4.18 billion (from Q1-2020 to Q2-2022). The latest update from the ministry further confirms state’s health and social spending from Q1-2020 until Q2-2022 reached MVR2.39 billion. Economic Response Plan (ERP) spending had reached MVR1.79 billion by the last reviewed quarter. Moreover, under the Income Support Allowance a total of 93,906 disbursements have been made. The total disbursement amounts to MVR421 million. Under the Covid-19 Recovery Loan schemes, 419 parties have been assisted. Ministry of Finance reports MVR585.9 million and USD8.0 million of total disbursements…