AGP Executive Report
Last update: an hour agoTourism Investment: The government has formed DRHC, a state-owned company tasked with developing 10 resorts in three years and expanding Maldivian jobs and training. Hospitality: Manhattan Grand has opened in Hulhumalé with 162 rooms and new meeting and events facilities, adding capacity for business and leisure visitors. Foreign Exchange: President Muizzu says mandatory currency conversion by tourism and other businesses will help build reserves and ease the dollar shortage. Tourism Payments: Bank of Maldives has been returning some payments for Russian visitors’ hotel bookings since October 18; operators report extra costs and cases where guests were asked to pay twice. Property Regulation: A proposed real estate law would create a regulator and introduce buyer protections, including escrow arrangements, as the government advances the Ras Malé development. Tourism Taxes: Parliament’s Economic Affairs Committee has approved abolishing the tax on foreign tour operators, alongside changes to GST registration thresholds. Climate and Jobs: ILO projections warn that heat stress could cost the Maldives about 2,400 full-time-equivalent jobs by 2040, even under a low-emissions scenario.
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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