News

The Ministry of Economic Development and the Embassy of the United Arab Emirates in Male’ hosted a webinar on the 22nd of December 2021 titled: Investing in Renewable Energy: Opportunities for Maldives & UAE.

The Minister today has issued an order pursuant to the Employment Act to establish the first ever minimum wage in the Maldives. The minimum wage will be effective from 1st January 2022 and will be implemented based on business classification.

We are pleased to announce the newly reformed Corporate Resident Visa Regulation, that has become effective from 29th August 2021. Corporate Resident Visa is suitable for eligible investors who wish to remain in Maldives for a longer period.

We are delighted to announce the grand opening of SEED co-workspace. This is an initiative of the Ministry of Economic Development which is being implemented through the Business Center Corporation. We hope that the launching of SEED opens doors to more young entrepreneurs and eases the difficult process of starting up your ventures.

Minister Fayyaz Ismail met with MPs of HA and HDh Atoll with Indian HC and officials of AAI to provide the latest updates on the progress of the Hanimaadhoo Airport Development Project to be financed by Indian Exim Bank. The masterplan, concept designs & project details were discussed.

A fruitful discussion held today between MED, Addu City MPs and AAI regarding the scoping of Gan Airport Development Project to be financed by Indian Exim Bank. The common vision is to transform the airport into a modern and vibrant gateway to the South of Maldives.

Minister for Trade, Tourism and Investment of Australia H. E Dan Tehan meets with H.E. Uz Fayyaz Ismail, Minister of Economic Development, H.E. Dr. Abdulla Mausoom, Minister of Tourism and H.E. Dr. Ibrahim Hassan, Minister of Higher Education to discuss areas of cooperation.