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The Ministry of Economic Development and Trade has gazetted revised foreign investment entry requirements, significantly reshaping the landscape for foreign investors in the Maldives. The changes, published on Wednesday, are part of reforms under the Foreign Investment Act which came into force in...
Highrise Pvt Ltd, a leading event management company from the Maldives is proud to announce its official partnership with TravelIndex Media Group, a prominent global digital media company focused on travel, tourism, and hospitality. This partnership will promote two of the Maldives’ most...
Hulhumalé, Maldives— A new chapter in Maldivian luxury living is being written with the arrival ofBlue Lagoon Luxury Residences, a landmark project set to transform the skyline of Hulhumalé. Developed by Varindera Constructions International Limited (VCIL), part of the renowned VCL Group, the...
The Maldives Association of Travel Agents and Tour Operators (MATATO) is pleased to announce the appointment of Mr. Mohamed Bassam Adam as its new Chief Executive Officer (CEO). Mr. Bassam brings with him over 20 years of experience in the Maldivian tourism and hospitality industry, having held...
Bank of Maldives (BML) has declared the commencement of applications for its 2025 Internship Program, providing young Maldivians the opportunity to acquire professional experience in the finance industry. The year-long initiative is tailored for students and recent alumni from universities and...
Today, the Maldives Government and the Japan International Cooperation Agency (JICA) finalized a grant agreement totaling JPY 1.56 billion (around USD 10.5 million) to assist in the Construction Phase of the Malé Island Disaster Resilience Enhancement Project. The contract was endorsed in Malé by...
The Privatization and Corporatization Board (PCB) has designated Deputy Managing Director Aishath Muzna as a member of the Board of Directors for the State Electric Company Limited (STELCO), acknowledging her exceptional twenty years of service and leadership in the firm. Muzna, from M. Dawnshine...
A government-owned entity called State Pharmaceutical and Medical Supply Corporation Limited has been created to import pharmaceuticals, medical supplies, and medical devices in large quantities. As stated by the President's Office today, this company was formed under the powers given to the...
Hussain Fahmy, recently ousted from his role as Managing Director of State Electric Company Limited (STELCO), has been given a high-ranking position in the President’s Office. Fahmy had been with STELCO for over 27 years and became Managing Director in November 2023. His termination was affirmed...
The Maldives Airports Company Limited (MACL) has formally assumed control of nine domestic airports, after the government’s decision last month to consolidate the Regional Airports Company Limited (RACL) with MACL. This is the first occasion in history that MACL’s portfolio reaches beyond Velana...
The Boduthakurufaanu north side road development initiative is progressing quickly, with the Maldives Transport and Contracting Company (MTCC) revealing another significant achievement today. The firm verified that 132 meters of sheet pile installation have been successfully accomplished in...
The Privatisation and Corporatisation Board (PCB) has designated Ahmed Shamah Rasheed as the new Managing Director of State Electric Company Limited (STELCO), succeeding Hussain Fahmy. The announcement was made on Tuesday, as the PCB verified Fahmy’s dismissal from the position. Fahmy, having...