Author: Mohamed Reehaan

The Maldives government on Sunday contracted the Maldives Transport and Contracting Company (MTCC) for new developmental projects on four islands. According to the Ministry of National Planning, Housing, and Infrastructure, MTCC was awarded the harbor expansion projects in HDh. Kulhudhuffushi and N. Kendhikulhudhoo and the shore protection projects in K. Himmafushi and AA. Mathiveri. The project awarding ceremony was held at the ministry. The ministry’s Director General Fathimath Shaana Farooq signed on behalf of the state and the CEO of MTCC Adam Azim signed on behalf of the contractor. Kulhudhuffushi expansion project involves the extension of the existing seven jetties…

Ahead of the upcoming World Sleep Day on 18th March, The Westin Maldives Miriandhoo Resort has launched a 7-day recharge program with daily activations spread throughout the week. The program is aimed at improving the quality of sleep of the guests. Among these activities include one complimentary workout session per day, a sauna and steam room experience with aromatic essences, sports activities, and a wide variety of suggested spa treatments. In addition to the activities during the week, on the World Sleep Day, the resort will host their annual Pajama Party for guests with entertainment, surprises, and recommendations for a…

The Maldives government has formulated the policy of using credit cards in state offices and agencies. The policy has been put on the state gazette on Sunday and has come into effect already. The policy was formulated to enhance the state bodies to make online payments via credit cards, especially in circumstances where it is the only available payment option. The policy provides guidelines for state offices when making online transactions via credit cards for budgeted expenditures or any expense permitted according to the Public Finance Regulation. Government offices or state bodies required to make credit cards must request for…

The Maldives Minister of Tourism Dr. Abdulla Mausoom on Monday responded to his Sri Lankan counterpart Harin Fernando’s comment about Maldives tourism. Speaking to local news ‘Mihaaru’, the minister said the Sri Lankan minister’s claim carried no weight as there were several repeater tourists to the Maldives. Dr. Mausoom also stressed that he does not believe Fernando’s remarks were intended to harm the sentiments of the Maldivian tourism industry, nor was his remarks an attempt to derail the island nation’s tourism momentum. “I met him at the ITB fair. I thought he was a young and energetic minister. I don’t…

The state expenditures in cumulative terms reached a total of MVR7.3 billion as of 02nd March 2023, reported the Ministry of Finance. According to the ministry, government revenues inclusive of foreign grants by the review date reached MVR6.2 billion. Owing to higher spending compared to earnings, the overall balance for the period is a deficit of MVR1.1 billion. Revenues & Grants Tax Revenues: MVR5.3 billion Non-tax Revenues: MVR856.9 million Grants: MVR9.3 million Capital Receipts: MVR1.4 million Expenditure Recurrent Expenditure: MVR5.5 billion Capital Expenditure: MVR1.8 billion Top Revenue Contributors TGST: MVR2.2 billion Corporate Income Tax: MVR768.6 million GGST: MVR750.9 million Import…

Ooredoo Maldives spent MVR379 million on new projects last year, the company’s board of directors confirmed during its Annual General Meeting held last Wednesday. The company affirmed its commitment to expanding and improving services and said it will continue investing in new initiatives every year. The Chief Financial Officer of Ooredoo Maldives Suresh Kalpathy Chidambaram said that the company’s financial costs increased owing to the continued investment in new projects which included the underwater submarine cable initiative and the expansion of the 5G internet connectivity in the Maldives. Suresh further said that Ooredoo Maldives will invest in more projects in…

Housing Development Corporation (HDC) on Saturday, 11th March, signed with six companies to develop cafes and restaurants at the Urban Boulevard which is developed near the area that connects Phase 1 and 2 of Hulhumale’. HDC selected the contractors through a competitive bidding process. The developers are required to fund the projects themselves, and are free to use their own design concepts. HDC selected the following parties to develop eateries in Hulhumale’ Urban Boulevard; Brothers Catering Refcool Celsius Private Limited Misraab Private Limited DineMore Restaurant Dreams Private Limited; was contracted to develop the first global franchise outlet in the boulevard;…

Dhiraagu and H One Sri Lanka have partnered to bring Microsoft solutions to the Maldivian market. H One is a leading Tier 1 Microsoft Licensing Solutions Partner and Cloud Solutions Partner from Sri Lanka with over a decade of operating in the Maldives. Dhiraagu and H One will be working together to deliver a comprehensive range of Microsoft products and services to customers in the region, which includes Microsoft technologies such as Modern Work Cloud, Modern Work Security, Apps and Infra (Azure), Modern App development, as well as data and analytics. “We are happy to announce our partnership with H…

The Maldives government collected a total revenue of MVR 1.72 billion in February 2023, reported Maldives Inland Revenue Authority (MIRA). Out of the total revenue, the state collected 73.60 million in US Dollars. The total revenue collected in February is an 18.6% increase compared to the same month last year. MIRA said this was because of an increment in the collections of TGST, GGST, Corporate Income Tax, Non-resident Withholding Tax, Airport Development Fee, and Airport Taxes and Fees. However, the collected declined by 20.8% compared to the initial projection. This decline, MIRA reported, was because of the collection of GST.…

Qatari investment company, Estithmar Holding has begun the development of its new ultra-luxury resort in the Maldives. The new resort, scheduled to open during the first quarter of 2025 will be managed by Rosewood Hotels & Resorts, the ultra-luxury global hospitality brand, and developed by Estithmar Holding’s subsidiary, Royal Resorts. The total investment of the project is reportedly USD343 million. The property will have 120 independent beach and overwater villas, ranging between one to five bedrooms, all with private pools. The center of the resort will feature specialty world-renowned restaurants, a wellness facility, a beach club, and other amenities. Estithmar…