Maldives is seeking prospective buyers for the sale of the newly developed resort and the operational domestic airport located in Raa atoll in the northern region of Maldives. The brand new Ifuru Resort is expected to offer an excellent return on investment due to the ease of travel provided by Ifuru Airport. Included in this …
Maldives Seeks Buyers for New Resort With Airport Read More »
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 …
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 …
After a 7 month long shutdown, guesthouses in the Maldives have finally started to reopen on 15 October 2020. The government decided to reopen guesthouses 3 months after the Maldives reopened its borders on 15 July 2020. Ministry of Tourism (MoT) has stated that a total of 22 guesthouses have submitted their Standard Operating Procedure …
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 …
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 …
Maldives to Link Islands Within Greater Male’ Region Read More »
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 …
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 …
The Ministry of Tourism (MoT) has announced that the government is seeking investors for the lease, development, operation and management of a new tourist hotel on a plot of 36 hectares of land in Haa Alifu Uligan. Along with the new tourist hotel, the invitation for bid also includes developing a yacht marina. Interested parties …
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 …
