Maldives News Bulletin - Volume 123

The Government affirms its intention to implement measures to address difficulties in acquiring foreign currency and bolster the economy. The statement was made at a press conference held at the President’s Office Sunday evening.

The press conference was attended by the Minister of Foreign Affairs, Moosa Zameer; Minister of Finance, Dr Mohamed Shafeeq; Minister of Economic Development and Trade, Mohamed Saeed; and Attorney General, Uz Ahmed Usham. At the press conference, the Ministers stated that during Sunday’s cabinet meeting, discussions were held with President Dr Mohamed Muizzu regarding efforts to manage the economic complications in the Maldives and the implementation of significant measures. The Attorney General highlighted that the legal amendments include modifications to the Pension Act, revisions to the Income Tax Act, and changes within the Maldives Inland Revenue Authority (MIRA).

Additionally, the Attorney General stated that the government intends to implement immediate changes, including necessitating companies earning revenue in dollars to settle their state obligations in dollars, requiring pension contributions in dollars from companies paying salaries in dollars, and mandating that customs duties be paid in dollars by companies generating revenue in dollars. The Attorney General indicated that updates would be provided within one to two weeks. During the press conference, the Ministers articulated that the Maldives Monetary Authority (MMA) is addressing the Bank of Maldives’ needs to mitigate the foreign exchange shortage. At the press conference, the Ministers outlined the measures being implemented to enhance and expand the nation’s economy and the forthcoming economic initiatives. Simultaneously, they observed that this time of year usually experiences a decline in foreign exchange flows. Nonetheless, they expect that the economic challenges will be resolved by the end of the year, and the country’s production output will increase.

^{SOURCE : The President’s Office}

The second training cohort of the Maldives Leadership Programme, known as the “Maldives Executive Leadership Programme,” is set to begin on August 27 in Malé, Maldives.

This program is conducted under the Memorandum of Understanding (MoU) on the “Government Experience Exchange Programme (GEEP),” established based on the close bilateral relations and ongoing cooperation between the governments of the United Arab Emirates (UAE) and the Republic of the Maldives. This MoU enables Maldivian government officials to participate in experience exchange programmes focused on government development and modernisation.

The official launch of the Maldives Executive Leadership Program is scheduled to take place in the Maldives on 27th August 2024. Following the launch, in-person sessions will be conducted in the Maldives. These two-day sessions will cover two of the five modules included in the programme.

As part of the programme, participants will complete a portion of their training in the UAE and visit selected government agencies, gaining valuable insights into the reform and modernisation programmes undertaken by UAE government authorities.

The graduation of the participants who complete the programme will be held at the World Government Summit in the UAE in February 2025. The participants of Maldives Executive Leadership Programme are fully funded by the UAE Government.

^{SOURCE : The President’s Office}

First Lady Madam Sajidha Mohamed has emphasised the responsibility to protect oceans so that future generations of surfers can enjoy it. She made the remarks while speaking at the closing ceremony of the “ASF Asian Surfing Championships 2024.”

At the event, the First Lady highlighted the importance of recognising our responsibility as custodians of the ocean while celebrating surfing. She mentioned that climate change poses a threat to our waves, marine life, and livelihoods, and she reaffirmed her commitment to protect the oceans, reduce plastic waste, and promote sustainable practices.

In addition, the First Lady emphasised that the championship is a celebration of skill, passion, and camaraderie. She congratulated the champions and emphasised that their achievements are a source of pride for their countries and a reflection of their hard work and dedication.

She also commended and admired the courage of all the participants during the competition. The First Lady stated that each participant, through their performances, has inspired others with the power of determination, the importance of sportsmanship, and the beauty of unity in diversity.

This year, the Asian Surfing Championship is being held on Thulusdhoo Island in Kaafu Atoll, with 113 athletes from 20 nations competing. Notably, this is the first time a qualification event is being held in the Maldives, although it marks the second time the Maldives has hosted the Asian Surfing Championship.

^{SOURCE : The President’s Office}

Ministry of Tourism has revealed that the number of tourist arrivals from China has increased by 65 percent. The latest statistics of the Tourism Ministry shows that Maldives has welcomed 189,470 tourists from China, as of August 21.

China is currently the top third source market of Maldives tourism. During the same period last year, Maldives welcomed 114,413 tourists from China. By the end of the year, China was the top source marker with 187,118 tourist arrivals.

Before the Covid-19 pandemic China was the top source market of Maldives tourism. However, the border closure due to the pandemic brought a complete halt to the arrival of Chinese tourists for nearly three years. With the reopening of Chinese borders and resumption of Chinese flights to Maldives, the number of tourist arrivals from China has been increasing tremendously.

The latest statistics published by the Ministry of Tourism shows that Maldives has welcomed 1.3 million tourists by August 21. This is an increase of 10.5 percent compared to the 1.1 million tourists during the same period last year. As Maldives welcomes an average of 6,298 tourists per day and they spend an average of 7 days in the country. With these numbers, the government aims to welcome two million tourists by the end of the year.

^{SOURCE : PSM}

Minister of Economic Development and Trade Mohamed Saeed has accused the Maldivian Democratic Party (MDP) of leading the country’s finances into a crisis by disrupting established systems.

He made the statement in response to accusations made by Chairperson of MDP Fayyaz Ismail, who claimed that the current government was exerting undue influence over the Bank of Maldives (BML).

In a social media post, Minister Saeed expressed dismay that a former Economic Minister, who had burdened the nation with a century of debt and pushed the economy into uncharted territory, would make such claims.

He accused the MDP of turning the entire system upside down and leading the country’s finances into a crisis. He also said that the nation’s interests should take priority over individual agendas

The Government has announced that it is currently working to improve the country’s economic situation. As such, it is implementing crucial measures to reduce expenditure and making significant changes in the operations of State-owned Enterprises (SOEs) and Ministries.

^{SOURCE : PSM}

President of the Election Commission of Maldives (ECM) Fuwad Thawfeeq has stated that competent leaders can be elected to manage the country under the democratic system if the right to vote is exercised properly. In his address commemorating the Voter’s Day, ECM’s President Fuwad stated that a government is formed and run by the residents of the country.

Highlighting that residents are the ones who elect government leaders, members for the parliament and representatives for the respective constituencies, Fuwad underscored the crucial importance of ensuring the right to vote is well-exercised.He added that voting to elect competent leaders was the responsibility of all residents.

Furthermore, Fuwad stated that the right to vote was given by the constitution, highlighting the need to exercise this right beneficially. He stressed the need to educate the upcoming generations on the importance of casting votes, noting that elections play a pivotal role in improving the situation and the running of the country.

He concluded his speech calling on all individuals to exercise their right to vote, outlined by the constitution. This year marks the first year in which Maldives celebrates Voter’s Day. ECM has decided that Voter’s Day will be observed annually on August 25.

^{SOURCE : PSM}

President Dr Mohamed Muizzu has declared Thursday, September 5, 2024, a Government holiday to mark this year’s National Day of the Maldives.

The announcement was made in a directive issued by the President’s Office on Sunday.

^{SOURCE : The President’s Office}

Minister of Fisheries and Ocean Resources Ahmed Shiyam has stated that the development of sports fishing will increase investments and employment opportunities in the Maldives. Developing sports fishing is a presidential pledge of President Dr. Mohamed Muizzu.

Minister Shiyam disclosed that President Muizzu has identified five areas for the development of sports fishing harbors. The harbours will be developed with fish stalls, an administrative office for competitions, restaurants and cafes, as well as fishing and barbecue facilities.

The minster states that the aim is to make these harbours available for Maldivians and foreigners. He added that the establishment of sports fishing harbours would increase foreign investments in the Maldives.

He noted the move will increase revenue and create more job opportunities.

Minister Shiyam also stated that efforts are being made to develop reef fishing. He stated that a loan scheme has been prepared to be opened via SDFC for fishermen and processors of reef fish. The government is working to further expand sports fishing and reef fishing to expand fisheries and economic activities, as well as to increase the income generated from them. In addition to these, the government is also making efforts to expand and develop mariculture and yellowfin tuna fishing.

^{SOURCE : PSM}

Minister of Climate Change, Environment, and Energy Thoriq Ibrahim has revealed plans to develop the nature park in Fuvahmulah City with additional services. In an interview with PSM News during his visit to Fuvahmulah, Minister Thoriq emphasised the significance of the island’s nature park as a vital natural attraction, especially given the growth of local tourism in the area.

He also noted that both the Fuvahmulah City Council and the management of the park are keen on expanding services for tourists and improving accessibility. Additionally, Minister Thoriq said that the development project would include the construction of additional boardwalks and the improvement of roads to facilitate better views of the surrounding trees. He also committed to collaborating with the Fuvahmulah City Council to create a plan for the park’s future development.

Furthermore, Minister Thoriq reaffirmed the government’s commitment to developing a nature park in each atoll across the Maldives, in addition to enhancing existing parks. He also said that all nature parks in the country would be fully developed within the next five years.

The Fuvahmulah Nature Park was opened on September 14, 2018. It is an eco-tourism site that includes the marshes and wetlands around Dhadimagi Kilhi. The park was established under the Climate Change Adaptation Project, funded by the European Union (EU), to protect the wetlands and mangroves of Fuvahmulah. It also offers visitors a chance to enjoy the natural beauty of the area and engage in activities like canoeing and pedal boating on the lake.

^{SOURCE : PSM}

Destination Future successfully concluded its inaugural Future Summit on August 20, 2024, at Kurumba Maldives, the first resort where the story of Maldivian tourism began. The event, attended by a distinguished audience of tourism pioneers, industry leaders, and key stakeholders, Ibrahim Shiuree, CEO and Managing Director of MMPRC and Abdulla Ghiyas, Chairman of MMPRC, marked a significant milestone in the Maldives tourism industry’s journey.

The summit was inaugurated by the Minister of Tourism, Mr. Ibrahim Faisal, who expressed his sincere gratitude to all panelists, participants, and attendees. Dr. Simad Saeed, Managing Director of CDE Consulting, delivered an impactful keynote speech titled “Brand Maldives, Today and Tomorrow – A Sustainability Perspective.” His address focused on crucial aspects of sustainability, including environmental protection, economic viability, and human capital development. Dr. Saeed emphasized that integrating these sustainable practices is crucial for maintaining the Maldives’ prestigious brand positioning and ensuring long-term success in the competitive global tourism market.

Additionally, Dr. Saeed advocated integrating awareness programs within schools to foster a deeper understanding of the tourism industry’s impact and importance among young students. By embedding tourism education early on, the Maldives can cultivate a new generation of informed and engaged citizens who are committed to supporting and advancing sustainable tourism practices. His speech provided a comprehensive framework for how the Maldives can continue to lead in sustainability while nurturing future leaders in the industry.

Panel discussions focused on tourism growth, sustainability, destination marketing, and diversification.

Additionally, Maldives Airports Company Limited (MACL) delivered their presentation on the future of Maldives’ aviation and infrastructure, the new development of the new passenger terminal at Velana International Airport (VIA).

In his closing remarks, the President of Destination Future, Hamza Saeed urged the industry to transition from ongoing experimentation to a focus on well-established, effective strategies. He highlighted the critical need for consistency and adherence to proven practices to ensure long-term success and stability