Author: Mohamed Reehaan

Maldives Ports Limited (MPL) has partnered up with Maldives Hajj Corporation to launch the “Muazzafunge Scheme” (Employees’ Scheme). The memorandum of undersrtanding (MoU) was signed between the corporations to facilitate MPL employees and their dependents to attend Hajj and Umrah pilgrimages. Signed at MPL headquarters, the MoU was signed between MPL CEO Shahid Ali and Hajj Corporation CEO Najeel Ahmed. Under the scheme, employees can opt for a specific sum to be deducted from their monthly salary that will be accumulated for their pilgrimage fund. The deductible amount is at the discretion of the individual employees.

The cumulative total of state expenditure reached MVR 26.9 billion as of August 10, reports Ministry of Finance. State’s revenues inclusive of foreign grants by the same date reached MVR 21.0 billion, indicating a deficit of MVR 5.9 billion. Expenses of the government include 69% recurrent spending and 31% capital spending. Revenues to the state include 77% tax revenues and 23% non-tax revenues. State collected MVR 16.1 billion in tax revenues as of the review date, and MVR 4.7 billion in non-tax revenues. Capital receipts of the state stands at just MVR 3 million, while grants currently stand at MVR…

As third quarter of 2023 is halfway through, the Maldivian tourism momentum remains impressively strong as of August 16. The country has attracted 1,165,337 tourists as of the review date which is a 13.8% increment in annual terms. Annual tourist arrivals for the same period in 2022 stood at 1,023,729. Tourist Arrivals – Monthly January: 172,499 February: 177,915 March: 173,514 April: 164,357 May: 120,959 June: 120,363 July: 145,629 August (1st to 16th): 90,101 While tourist arrivals saw a 13.8% annually, arrivals from 1st to 16th August saw a 17.1% increment in 2023 compared to the same period in 2022. In…

State Trading Organization (STO) has opened its Staff Gym for all the employees of the STO Group of Companies. STO Managing Director Abdulla Saeed inaugurated the facility which is located at the STO Staff Quarters. The gym features some of the latest and state-of-the-art equipment and machinery, and provides a spacious venue for the staff to come and exercise. While inaugurating the staff gym, STO honcho assured that the employees of all STO Group of Companies can access the facility free of charge. The opening ceremony was attended by senior officials of all the companies under STO umbrella. Besides the…

Preparations are underway for the reclamation of Hulhumale’ 2 lagoon which will be the venue for the state to issue lands under the “Binveriya” scheme. Urbanco on Thursday, instructed the vessels berthed in the lagoon in Hulhumale’ 2 to vacate. Physical works of the reclamation project will reportedly commence in September, the large portion of the reclaimed area will be allocated to issue lands under the scheme. The area was however, planned for a marina development previously by the preceding government. Reports also claim 700 plots will be issued from the reclaimed area while draws for plot allocation have been…

Mohan Mutha Group, parent company of India’s MM Exports, is planning to develop a USD 30 million resort in the Maldives. Mohan Mutha’s Executive Director Suresh Mutha said to The Hindu’s Businessline that the company is trying to obtain the permits to build a “wellness” resort in the Maldives. He added that the funding for the resort will be secured through a loan from a Maldivian bank. Reportedly the resort will exclusively offer vegan and vegetarian cuisine. The resort will also not serve any form of alcohol.

Addu City Council has decided to issue plots to all eligible applicants who earlier applied for land from Addu. The city’s mayor Ali Nizar spoke with local news Sun Online on Wednesday, August 16, noting that the eligible applicants include unmarried youth as well. Nizar also noted that only few applicants were deemed ineligible. The recipients list will be released on Thursday, August 17, according to Nizar. Plots will be issued from existing land and from the land currently being reclaimed. Earlier, Maldives government launched one of the largest reclamation projects in Maldivian history focused with reclaiming 193 hectares in…

TFG has launched the first children’s gym in the Maldives, dubbed “Kid’s Gym”. The new gym for the younger fitness enthusiasts was opened as part of TFG’s initiative to promote health and fitness among children. According to TFG, the Kids’ Gym will create an enjoyable and educational environment for the children to engage in various physical activities, learn new skills, and develop a foundation for a healthy lifestyle. TFG CEO Hussain Zinan said that the gym was designed to foster children’s interest in fitness and physical well-being. The new Kids’ Gym will be open for children between the age of…

Baa atoll Goidhoo Island Council approved the lease of 275,000 square feet land for tourism development. The council’s announcement stated that the land will be leased for the development of two types of tourist properties, which include; Guesthouse development: 05 plots between 5,000 to 10,000 square feet Villa/Service Residences: 200,000 square feet plot The council said bid books for the project will be available from Sunday, August 20 to Monday, August 28 between 09:00hrs and 12:00hrs. Bids books can be obtained either from the council’s office or online. Bid books for guesthouse development is priced at a non-refundable MVR 5,000…

Maldives government has awarded the land reclamation work for L. Kadhdhoo Airport project to Maldives Transport and Contracting Company (MTCC) for MVR 390 million. A ceremony held at the Ministry of Economic Development, the agreement was signed by the ministry’s Director Fathimath Shaana on behalf of the government, and MTCC Managing Director Adam Azim signed on behalf of the contractor. The project scope involves land reclamation of the airport island, with a completion period of 10 months. The initiative also includes shore protection work which falls within the 10-month period for completion. Kadhdhoo Airport island’s land is being reclaimed for…