Maldives Business News
Maldivian business runs on tourism, fisheries, trade and a growing number of local companies in Malé and Hulhumalé. Here you will find news on companies, investment, property, banking and the people building businesses in the islands.
STO third-quarter profit climbs to MVR 281 million
State Trading Organization made a net profit of MVR 281 million in the third quarter, up from MVR 186 million a year earlier, even as lower fuel prices cut revenue.
MIFCO, SINOMACH deal eyes fish exports to China
State-owned MIFCO signed an MoU with China's SINOMACH Hainan on 28 October to explore exporting Maldivian frozen whole fish to China, starting with market research.
STELCO signs 15MW solar power deal with China's Sinosoar for 13 islands
The 20-year, privately financed deal is the largest solar PV agreement yet in the Maldives and is expected to save 15 million litres of diesel a year, the ministry said.
HDC takes first place among state-owned companies at Maldives Expo 2026 awards
The Housing Development Corporation won the state-owned companies category for models of early Hulhumalé vessels and a smart streetlight system.
SMEs to get USD payments via BML from November as Addu becomes first SME zone
President Muizzu says small businesses can receive and spend US dollars through BML from 1 November, with a higher GST threshold, duty cuts and an Addu SME zone from January.
Ras Malé to earn eight times more tourism GST than a resort, minister says
Infrastructure Minister Dr Abdulla Muththalib said Ras Malé would bring the state about USD 340 million a year in tourism GST and pledged to protect resort businesses.
Bangladesh asks MMA to help open Bangladeshi bank branches in the Maldives
Bangladesh Bank has written to the MMA seeking cooperation to open Bangladeshi bank branches in the Maldives and ease remittances by migrant workers.
Addu airport revenue nearly triples on jet fuel sales as annual loss narrows
Addu International Airport's revenue rose by MVR 61 million to MVR 94.4 million in 2025, cutting its loss to MVR 68.7 million, an Auditor General's report shows.
Maldivian to fly to Karachi soon as Muizzu and Sharif push trade at Islamabad forum
President Muizzu told a Maldives–Pakistan business forum in Islamabad that Maldivian will soon fly to Karachi, as both leaders backed direct shipping links.
119 fishermen get MVR 15 million in loans through BML scheme
The Ministry of Fisheries, Agriculture and Ocean Resources said on Wednesday that 119 registered fishermen had received a total of MVR 15 million in loans from Bank of Maldives by 20 October.
New directors named to STO, state pharmacy and Maldives Post boards
The Privatisation and Corporatisation Board has appointed new members to the boards of State Trading Organisation, the State Pharmaceutical and Medical Supply Corporation and Maldives Post.
Government moves to repeal tourism tax on foreign tour operators
A government bill submitted to Parliament on Tuesday would scrap the requirement for foreign tour operators, travel agencies and booking platforms to pay Tourism GST, weeks after it took effect.
Central bank suspends MS Finance licence and fines it MVR 500,000
The Maldives Monetary Authority has suspended the licence of MS Finance Currency Exchange and fined it MVR 500,000 for breaching money-changing rules.
Avaani Maldives resort opens in North Malé Atoll
Pulse Hotels and Resorts has announced the opening of Avaani Maldives, an eco-focused resort in North Malé Atoll about 45 minutes by speedboat from Velana International Airport.
Qatar Airways and Virgin Atlantic add Maldives flights for winter season
Qatar Airways will fly three times a day between Doha and Malé from 25 October, and Virgin Atlantic's direct London service returns on 27 October, adding seats into Velana International Airport as the high season begins.
Ministry warns shops of action over goods sold without price tags
The Ministry of Economic Development, Transport and Trade said on 14 October it will inspect shops and take legal action against businesses that sell goods without clearly displaying their prices, after receiving complaints from consumers.
How small businesses can import goods from China: a step-by-step guide
With the China–Maldives Free Trade Agreement in force since 1 January 2025, small and medium enterprises can import many Chinese goods at lower or zero duty, provided they register correctly and carry the right paperwork.
Tourist arrivals down 3.5% at 1.61 million, ministry figures show
The Maldives recorded 1,611,434 tourist arrivals as of 7 October, down 3.5% from the same period last year, according to the Ministry of Tourism and Civil Aviation.
Bank of Maldives ranks among Forbes World’s Top Performing Banks 2026
BML placed in Tier 6 of the inaugural Forbes-Statista ranking of 500 banks from 89 countries.
Maldives island investments priced up to $34 million
Maldives International Group is marketing three island investment opportunities priced from $19.5 million to $34 million, though its promotional material leaves key transaction details unspecified.