Author: Mohamed Reehaan

The Maldives Ministry of National Planning, Housing and Infrastructure (MNPHI) has announced state’s plan of developing six new domestic airports. Moreover, the ministry announced plans to seek financial assistance for the development of these airports that will reportedly cost a collective USD133 million (MVR2 billion) under the cross-subsidy model in six local islands. Earlier, the government had announced plans of developing airports in four different regions in the country, while opening the opportunity for interested developers. The very first batch of islands with the prospect of airport development, announced by the ministry include; Baa atoll Thulhaadhoo Baa atoll Bilathfahi Thaa…

Moji Maldivi in association with Maldives Marketing and Public Relations Corporation (MMPRC) has conducted an exclusive educational lecture about the Maldives during a seminar held by Rotary Club Ljubljana International. Moreover, the Managing Director of Moji Maldivi, Ms. Aishath Nuzuha who was the guest speaker at the seminar had presented the lecture as well. During the lecture, Ms. Nuzuha spoke about the latest information and developments of Maldives; precisely with regards to the tourism industry while other details regarding the country’s culture and economy were explained. Moji Maldivi is a subsidiary of SEE Marketing, a PR firm based in Ljubljana,…

Welcome to the Monthly Review of Maldives Business Times. In this segment, all the important economic developments across all sectors in the country will be highlighted and detailed. The information required for the monthly review panel is collected from relevant state institutions which include; Ministry of Tourism, Ministry of Finance, Maldives Monetary Authority (MMA) and Maldives Bureau of Statistics. Tourism As per information reported from Ministry of Tourism and corroborated by Maldives Bureau of Statistics the total tourist arrivals recorded for October 2021 stood at 142,066. The arrival figure in October observed a 23.6% growth compared to September 2021 -…

According to the quarterly financial report of Maldives Transport and Contracting Company (MTCC) recorded a revenue of MVR484.61 million in the third quarter of 2021. The net profit for the company in the review quarter is MVR56 million while MTCC observed an operating profit of MVR71 million while the earnings per share is currently at MVR6.92. Moreover, the earnings for the company in the review quarter had observed a growth of 14.5% compared to the revenue earned in the second quarter of the year – where it had reached MVR423.32 million. Furthermore, the quarterly report of MTCC also identifies that…

The Chief Executive Officer of Maldives Transport and Contracting Company (MTCC) has praised the dedication, commitment and hard work of the company’s staff. Moreover, while speaking at the special ceremony held on Sunday evening to commemorate the company’s 41st anniversary the MTCC front-man credited the company’s sustainability to the diligence and perseverance of its dedicated employees. Furthermore, he had acknowledged the continued support and commitment of the company’s employees in ensuring MTCC’s collective vision and objectives are met. In his speech, he had noted on the employees’ round-the-clock working approach to maximize roll-out of urban development projects across various islands…

Qatar Airways celebrates 20 years of flying to the Maldives and a special celebratory event was held at Velana International Airport (VIA) to commemorate the milestone. The internationally lauded airline hailing from Qatar first commenced its direct flight operations to the Maldives in 2001. To commemorate the 20th anniversary of Qatar Airways’ operations to the island nation, the first flight of the airline landing at VIA on Sunday, 19th December was welcomed with a water salute and a traditional drum-fare (Boduberu) event. Moreover, the celebrations were held by Maldives Airports Company Limited (MACL) in collaboration with the airline. Furthermore, Maldives…

The national airline of the island nation, Maldivian will add two ATR 72-600s to its fleet in order to compensate for influx of travelers amid the tourism peak season and New Year’s peak. As such, two ATR 72-600 airplanes will be wet-leased; meaning the aircraft will be leased with an operating crew in order to adjust the airline’s operations amid the busy tourism season. Meanwhile, Maldivian presently operates with 10 De Havilland Dash-8s, out of which only 6 Dash-8s have been actively in operation for the past few days. Furthermore, the airline reports that the inactive 4 aircraft will be…

Maldives has once again secured World’s Leading Destination title along with other accolades at the World Travel Awards 2021. Furthermore, the win was announced at the WTA 2021 ceremony held virtually on 16th December, Thursday of last week. Speaking about latest achievement, the Chief Executive Officer and Managing Director of Maldives Marketing and Public Relations Corporation (MMPRC) Mr. Thoyyib Mohamed expressed his gratitude to everyone who voted for the island nation at the awarding ceremony. Moreover, the MMPRC front-man noted the contributions of the Government of Maldives, Ministry of Tourism along with other tourism industry affiliated authorities, associations and NGOs…

According to the latest statistical updates from Maldives Ministry of Tourism the daily arrival average of tourists has increased to 4,970 as of 08th December 2021. Moreover, the total tourist arrivals from January until 08th December stood at 1,197,409 while the arrivals from 01st until 09th December stands at 39,756. The arrival count for the first eight days of December is still 0.5% below pre-pandemic levels. As such, in 2019 during the corresponding period the arrival count stood at 39,950. However, arrival count in the review period observed a growth of 141.7% when compared with the same period in 2020…

According to the latest updates from Ministry of Finance on weekly fiscal developments, the state had spent a year-to-date total of MVR30,531.2 million (MVR30.5 billion). Moreover, revenues to state observe a slow-down in weekly terms and reached just MVR18,113. 9 million (MVR18.1 billion). Expenditure composition confirms that 71% of the total had been spent on recurrent needs and 29% on capital expenses. On the other hand, revenue composition confirms 72% came from tax sources and 28% came from non-tax sources. Meanwhile, similar to all the previous weeks the strongest revenue sources to the state include TGST, GGST and BPT. Furthermore,…