AGP Executive Report
Last update: 10 hours agoTourism Policy & Airfares: Cabinet has directed IASL to reduce Maldivian tourist airfares, a move aimed at easing travel costs as arrivals remain pressured by Middle East disruptions. Tax & Construction Costs: Parliament approved raising withholding tax on payments to non-resident construction contractors from 5% to 10%, with MIRA estimating an average MVR 251m in added annual revenue. GST on Tourism Services: Finance Ministry says it consulted the IMF on taxing foreign tour operators and offshore booking platforms under the “destination principle,” while Parliament debates a 17% Tourism GST approach. Shipping & Logistics: Maersk increased peak season container fees to Maldives and Sri Lanka by USD 400 per container from late August, affecting non-spot bookings. Industry Risk: A warning highlights cyber insurance gaps when ransomware causes physical factory shutdowns, leaving manufacturers exposed. Environment & Fisheries: Environment Minister visited Hanifaru Bay to review conservation, while Fisheries designated 10 more mariculture zones to expand the sector. Aviation & Events: MACL and Visit Maldives partnered to support World Travel Awards at Velana International Airport, with the gala set for 27 September. Consumer Data: Maldives Business School and the University of Michigan launched the Maldives Consumer Sentiment Index to track month-to-month economic expectations. Construction Insurance: Allied Insurance joined CIF 2026 as official insurance partner, focusing on project risk protection.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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