Month: October 2020

Maldives Airport Seeks Insurance Provider

The Maldives Airports Company Limited (MACL) operating the Velana International Airport (VIA) has published a public tender seeking proposals for providing insurance for VIA for the year 2021. With this tender, the types of airport insurances MACL is requesting are ‘All Risk & Business Interruption’ insurance, ‘Airport Aviation Liability’ insurance and ‘Terrorism’ insurance. Parties interested …

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MOT unfreezes MMPRC Islands

After a protracted freeze on transactions involving MMPRC islands, the Ministry of Tourism (MOT) has finally begun processing requests related to MMPRC islands. The freeze order came from the Presidential Commission on Corruption and Asset Recovery, fondly referred to as the Asset Recovery Commission or just “PCCAR”. The freeze instituted around mid-2019 was both unequivocal …

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Investment Opportunity in Maldives Tourism

The Maldives government has published the invitation for bids for the lease, development and operation of tourist guesthouses and city hotels in Addu, which is the southernmost atoll in the Maldives. With this project, the government aims to create more employment opportunities for locals and further enhance the economical growth within Addu atoll, through local …

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Maldives to Link Islands Within Greater Male’ Region

The Ministry of Finance (MoF) and Exim Bank of India has entered into a Dollar Credit Line Agreement facilitating Maldives with USD 400 million for the Greater Male’ Connectivity Project. The project aims to connect the islands of Male’, Vilimale’ Gulhifalhu and Thilafushi with bridges and will be the biggest infrastructure project Maldives embarks on …

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Maldives Introduces Covid-19 Tourism Insurance

Ministry of Tourism (MoT) jointly with Allied Insurance Company of the Maldives Private Limited, has initiated a Covid-19 insurance policy for tourists visiting the Maldives. Through this insurance policy, the aim of Allied Insurance Company is to provide insurance at affordable rates and relief for the challenges faced by the tourism industry. This will also …

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Campaign Launched to Deregister Businesses

Maldives Inland Revenue Authority (MIRA) has launched a campaign called, ‘Nukuraanama Unikuramaa’ aimed to deregister inactive businesses falling within the criteria for deregistration under Goods and Services Tax (GST). Under this criteria, businesses generating an annual income less than MVR 500,000 will be eligible to apply for deregistration. Majority of the businesses submitting GST nil …

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Seaplane Operations Between Addu and Huvadhu

On Saturday, execution of an agreement between Island Aviation Services Limited (IASL) and Addu International Airport Private Limited took place, commencing seaplane operations between Addu City and Huvadhu atoll. The commencement of seaplane operations between these two atolls is perceived by both the Ministry of Tourism (MoT) and Ministry of Economic Development (MED) to significantly …

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