AGP Executive Report

Fuel & Aviation Costs: India cut aviation turbine fuel (ATF) by Rs 5/litre from July 1 to about Rs 110, while export duties on petrol, diesel and ATF were reset; Mauritius and the Maldives were added to the exemption list—good news for airline operating costs, though fare drops aren’t guaranteed. Maldives Tourism & Culture: CROSSROADS Maldives met the Ministry of Culture and Heritage to explore partnerships to promote Maldivian culture, heritage and creative experiences. Hospitality Tech: eMarketingEye will host “EME Level Up: AI Hospitality Connect Sri Lanka 2026” on 14 July in Colombo, with expected participation from Sri Lanka and the Maldives. Marine Economy: A new study estimates manta ray watching supports over US$311m annually for the Maldives and could reach US$8.6b over lifetimes—boosting the case for conservation-led tourism. Business & Connectivity: Dhiraagu announced CEO succession, with Valdemar Ferradaz taking over as CEO designate from 1 July ahead of Ismail Rasheed’s retirement. Local Industry Spotlight: VMC partners with PSM to build a large marketplace for Maldivian creative content.

Maritime & Trade Deal: Maritimo has appointed KJM Marine as its exclusive dealer across the GCC and selected Middle East and Indian Ocean markets, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE, plus Egypt, Lebanon, the Maldives, Mauritius and the Seychelles—aiming to meet rising demand for long-range luxury yachts with full sales and after-sales support. Telecom Leadership: Dhiraagu has named Valdemar “Valde” Ferradaz as CEO designate from 1 July ahead of Ismail Rasheed’s retirement, with a structured handover to protect continuity in Maldives connectivity and infrastructure delivery. Creative Economy Push: Visit Maldives Corporation launched Creatoll, a national digital marketplace for Maldivian photographers, filmmakers and other visual creators to sell content directly to international buyers with verified profiles, pricing control and retained IP ownership. Tourism Value from Nature: A new study says manta ray watching contributes over US$311m annually to the Maldives economy and could reach about US$8.6bn in lifetime tourism revenue, reinforcing conservation as an economic engine. Culture Partnerships: CROSSROADS Maldives met the Ministry of Culture and Heritage to explore partnerships to promote Maldivian culture, heritage and creative experiences. Hospitality & Food: Vakkaru Maldives will host Danish Chef Jesper Koch (16–28 July) for culinary training, workshops and guest cooking classes as part of an expanded collaboration later this year. Regional Business Context: Maldives–India have begun formal FTA negotiations, with the first round held after TOR sign-off in March.

Maldives-Creators Push: Visit Maldives Corporation has launched Creatoll, a national digital marketplace where Maldivian photographers and filmmakers can sell content directly to international buyers, set their own prices, and keep ownership of intellectual property—plus a global “This is My Maldives” photo competition with an MVR 50,000 prize. Blue Economy: A new study says manta ray watching is worth US$311m annually to the Maldives economy and could generate US$8.6bn in lifetime tourism revenue. Trade Talks: Maldives and India have started formal FTA negotiations, with the first round held this week and a goal to conclude soon—aimed at giving Maldivian exporters better market access. Marine Luxury Deal: Maritimo has appointed KJM Marine as its exclusive dealer across the GCC and selected Middle East/Indian Ocean markets, including the Maldives, with full sales and after-sales support. Tourism Demand Lever: India’s NITI Aayog is urging visa liberalisation (visa-on-arrival, longer multiple-entry visas) to boost inbound tourism—relevant for Maldives-bound travellers and regional connectivity. Fuel Cost Spillover: India cut ATF by ₹5/litre from July 1 and revised export duties on petrol/diesel/ATF, while expanding exemptions to include Maldives—a small but potentially helpful signal for aviation and travel costs.

Maldives-India Trade: India has kicked off the first round of Free Trade Agreement talks with the Maldives (IMFTA), running June 29–July 7, aiming to cut tariffs and simplify trade rules, with wider steps like RuPay, local-currency trade and UPI integration also in motion. Tourism Promotion: Visit Maldives Corporation launched “This is My Maldives,” a global photography competition under Creatoll, inviting original shots across places, people, culture, nature and experiences, with a MVR 50,000 prize. Energy & Resilience: Quino Energy’s flow batteries are being used for Maldives microgrid deployments, including a project to cut diesel dependence on Himandhoo Island by pairing solar-diesel hybrid systems with storage for reliability during extreme weather. Maritime Enforcement: A Sri Lankan fishing vessel was ordered permanently forfeited and fined MVR 600,000 after a Civil Court found it guilty of illegal fishing in the Maldives EEZ. Banking Innovation: Bank of Maldives rolled out a new USD investment option via mobile and internet banking, offering returns up to 25% paid in MVR the next day.

Banking & Investment: Bank of Maldives (BML) launched a new US-dollar investment option with returns up to 25%, paying profits in Maldivian rufiyaa the next day via its mobile and internet banking. Tourism Forecasting: PATA released its mid-year Asia Pacific visitor outlook, projecting 714.9m international arrivals in 2026, rising to 789.2m by 2028. Trade Talks: India and Maldives kicked off week-long FTA negotiations (June 29–July 7), aiming to cut tariffs and simplify trade rules, with broader steps like RuPay and local currency integration. Diplomacy: UAE’s MoFA undersecretary received credentials copy of Maldives Ambassador Thoriq Ibrahim, reaffirming cooperation across climate, tourism and renewables. Maritime Enforcement: A Sri Lankan fishing vessel was confiscated and fined MVR 600,000 for illegal fishing in the Maldives EEZ. Energy Transition: Flow batteries and solar-diesel hybrid microgrids are being deployed on Maldives islands to cut diesel use and improve reliability. Hospitality & Culture: Visit Maldives Corporation launched “This is My Maldives,” a global photography competition under Creatoll, with a MVR 50,000 prize. Women in Diving: Nova Maldives marks Women’s Dive Day (July 17–19) with Maldivian PADI Course Director Zoona Naseem and community dives.

Illegal Fishing Enforcement: Maldives Civil Court ordered confiscation of Sri Lankan vessel Jayan Putha 2 and fined owner AJVD Silva MVR 600,000 for illegal fishing in the Maldives EEZ, with permanent forfeiture to the state. Trade & Payments Integration: India and Maldives kicked off week-long IMFTA talks (June 29–July 7) aiming to cut tariffs and ease trade rules, with broader links including RuPay, local currency trade, and UPI integration. Creative Economy & Tourism Branding: Visit Maldives Corporation launched “This is My Maldives,” a global photography competition under Creatoll, offering a MVR 50,000 prize and licensing images for destination promotion. Resort & Hospitality Recognition: Sun Siyam Iru Fushi ranked No. 2 for Best Family Resorts in Travel + Leisure Asia Pacific; Marriott’s Maldives portfolio also swept multiple Travel + Leisure Luxury Awards categories. Energy & Microgrids: Flow batteries are being selected for Maldives microgrid deployments to cut diesel dependence, improve reliability, and support renewable-heavy island power systems. Marine Protection Rules: New SAMPA vessel rules require registration and propeller guards from June 30 to reduce wildlife and tourist accidents. Hospitality Careers: Capella Hotel Group appointed Feisal Jaffer as chief development officer to drive global expansion of Capella and Patina brands.

Indian Ocean Security & Diplomacy: PM Modi’s Seychelles visit is framed as a push to deepen military-maritime ties, with India handing over a patrol vessel and signing 19 agreements tied to defence, maritime security, digital payments and climate resilience—an effort seen as countering China’s growing Indian Ocean footprint. Maldives Marine Safety: New SAMPA rules will require vessel registration and installed propeller guards for boats entering the South Ari Marine Protected Area from 30 June, tightening enforcement after past tourist and wildlife accidents. Tourism Demand (UAE): Maldives remains the top international summer destination for UAE travellers, taking one in five overseas hotel bookings, as dnata Travel reports strong interest in longer, experience-led trips. Hospitality Awards & Brand Moves: Multiple Maldives resorts score major recognition—Tripadvisor places The Standard, Maldives in the top 10% globally; OUTRIGGER Maafushivaru wins Tripadvisor Best of the Best; Marriott’s Maldives portfolio also earns Travel + Leisure Luxury Awards. Creative Content Platform: VMC and PSM partner to expand Creatoll by adding PSM’s audiovisual archives, aiming to make Maldivian cultural and historical media easier for creators and buyers to access.

Water & Public Health: A new global map shows safe drinking water access is still out of reach for billions, with many low-income countries below 20% safely managed service—an urgent reminder for Maldives’ own water security priorities. Maldives Health Policy: Bangladesh’s health budget debate highlights a shift toward disease prevention and system reforms over unplanned hospital construction, with allocations nearly doubling—useful context for regional health planning. Marine Safety & Tourism Regulation: Maldives tightens rules for vessels entering South Ari Marine Protected Area (SAMPA) from 30 June, requiring official registration and mandatory propeller guards to protect whale sharks and reduce accidents. Tourism Growth & Recognition: The Standard, Maldives (Hyatt) and OUTRIGGER Maldives Maafushivaru both win major Tripadvisor awards, reinforcing the Maldives’ pull for high-review luxury travel. Cruise Tourism: Visit Maldives Corporation and yacht agents welcome the first Chinese cruise ship to the Maldives, pushing cruise as a complementary arrival channel. Digital Content & Heritage: VMC partners with PSM to expand Creatoll, bringing Maldivian audiovisual archives into a new marketplace for creators and buyers. Hospitality Appointments: Sheraton Maldives Full Moon Resort & Spa appoints Audra Arul as Director of Sales & Marketing, signaling continued commercial focus.

SAMPA Vessel Rules: The Maldives tightens safety in the South Ari Marine Protected Area, making propeller guards mandatory and requiring vessel registration before entry from 30 June, after past accidents involving tourists and marine life. Tourism Diversification: Visit Maldives Corporation and the Maldives Association of Yacht Agents welcomed Viking Yidun, marking the Maldives’ first Chinese cruise ship visit and a push to grow cruise and yacht arrivals alongside traditional tourism. Maritime & Diplomacy: President Muizzu appoints new ambassadors to Qatar and the UAE—Adam Shareef Umar and Thoriq Ibrahim—aimed at strengthening key bilateral ties. Healthcare Budget Signal: While from Bangladesh, State Minister Dr MA Muhit says the 2026-27 health budget prioritises disease prevention and reforms over unplanned hospital construction—an approach Maldives policymakers may watch as they plan sector upgrades. Luxury & Recognition: Multiple Maldives resorts keep racking up global awards, including Tripadvisor top-10% status for The Standard, Maldives and Travel + Leisure Luxury Awards wins for Marriott properties and InterContinental Maldives family offerings.

Marine Protection Rules: Maldives tightens operations in South Ari Marine Protected Area (SAMPA) from 30 June, requiring vessel registration and mandatory propeller guards to reduce wildlife and tourist accidents. Tourism Demand & Awards: The Standard, Maldives (by Hyatt) lands in Tripadvisor’s global top 10% hotels, while OUTRIGGER Maldives Maafushivaru Resort is named a Tripadvisor “Best of the Best” winner for 2026. Cruise Tourism Push: Visit Maldives Corporation and Maldives Association of Yacht Agents welcome Chinese cruise ship Viking Yidun, signaling cruise diversification beyond traditional arrivals. Creative Economy: VMC partners with Public Service Media to expand Creatoll, adding PSM’s audiovisual archives to a digital marketplace for Maldivian content. Energy & Resilience: Quino Energy receives Tencent CarbonX support for an MWh-scale flow battery for Himandhoo’s microgrid, aiming to cut diesel reliance and improve power resilience. Diplomacy: President Muizzu appoints new ambassadors to Qatar and the UAE to deepen bilateral cooperation. Waste Trafficking Enforcement: France-led regional seminar brings customs, police and partners together to share tactics against waste trafficking across South and Southeast Asia.

Hospitality Awards & Leadership: InterContinental Maldives Maamunagau Resort keeps its family-travel momentum, again named among the Maldives’ Top 10 Best Resorts for Families at the Travel + Leisure Luxury Awards Asia Pacific 2026. Sheraton Maldives Full Moon Resort & Spa also strengthens its commercial team with the appointment of Audra Arul as Director of Sales & Marketing. Wellness & Events: Hideaway Beach Resort & Spa launched the Maldives Hideaway Resort Run 2026, with the main race set for 18 September 2026 as part of a World Wellness Weekend. Tourism Brand Wins: OUTRIGGER Maldives Maafushivaru Resort was named a Tripadvisor Travellers’ Choice “Best of the Best” for 2026. Maldives Content & Media: VMC and PSM partnered to expand Creatoll by adding PSM’s audiovisual archives, aiming to make Maldivian creative and cultural assets easier to access and license. Cruise Tourism: VMC and MAYA welcomed the Chinese cruise ship Viking Yidun, marking the first Chinese cruise ship visit to the Maldives. Energy & Water Tech: Quino Energy’s MWh-scale island microgrid battery project in Himandhoo received Tencent CarbonX support, while Flocean says its subsea desalination system has reached “first water” and is producing freshwater at full capacity. Sports Tourism: SAii Lagoon Maldives hosted the inaugural Inter Resort & Partners Maldives Padel Open 2026 at CROSSROADS Maldives, a first-of-its-kind inter-resort padel event.

Cruise Tourism Boost: Visit Maldives Corporation (VMC) and Maldives Association of Yacht Agents (MAYA) welcomed Viking Yidun, the Maldives’ first Chinese cruise ship visit, marking a push to diversify arrivals and grow cruise/yacht tourism. Hospitality Leadership: Capella Hotel Group appointed Feisal Jaffer as chief development officer, with prior Maldives development experience tied to Patina and Capella projects. Digital Content Marketplace: VMC partnered with Public Service Media to expand Creatoll by integrating Maldivian audiovisual archives—aimed at connecting creators and buyers with authentic local content. Energy & Resilience: Quino Energy’s CarbonX grant (Tencent) supports a MWh-scale flow battery for Himandhoo Island, designed to cut diesel reliance and strengthen microgrid reliability. Water Security Tech: Flocean says its subsea desalination system reached “first water” and is producing freshwater at full capacity, with Maldives partnerships in its pipeline. Hospitality Tech Expo: NHGAM endorsed TechEng 2026 (6–8 Oct, Hulhumalé), backing innovation and smart infrastructure for hotels and guesthouses. Tourism Demand Signal: Trade reports a bounce-back in long-haul sales after Gulf travel advice eased, with interest in the Maldives rising. Local Payments for Students: Bank of Maldives introduced a dedicated card limit policy to help overseas students pay student visa fees more easily.

Cruise Tourism Boost: Visit Maldives Corporation and the Maldives Association of Yacht Agents welcomed Viking Yidun, the first Chinese cruise ship to the Maldives, with cultural performances at Jetty 1 in Malé—another push to diversify arrivals beyond traditional channels. Hospitality Tech & Trade: Dhiraagu added eeezap as an Elite Club partner, giving members 5%–15% discounts on the Maldives’ multi-service “Super App,” while NHGAM endorsed TechEng 2026 (6–8 Oct) as the B2B engineering and technology expo for hotels and guesthouses. Energy & Water Infrastructure: Flocean says its subsea desalination system, Flocean One, has reached “first water” and is producing at full capacity, targeting island freshwater supply without coastal land use. Outer Islands Power Storage: Quino Energy received Tencent CarbonX support for an MWh-scale flow battery for Himandhoo Island, aimed at cutting diesel reliance and improving resilient microgrid power. Climate & Food Security Funding: Maldives launched the VilunVeshi Grant Programme with ADB support to back climate resilience and food security projects, including digital-enabled adaptation. Tourism Demand Signals: Travel agents report late summer sales are holding up, with renewed interest in long-haul routes and quick bounce-back to destinations like the Maldives after UK FCDO advice changes for the Gulf.

Maldives Climate & Food Security Grants: The Maldives launched the VilunVeshi Grant Programme to boost climate resilience and food security, backed by the Asian Development Bank and delivered with SME Digital, offering micro-grants, community projects and larger demonstrations using practical adaptation plus digital tools. Energy & Outer Islands: Quino Energy’s MWh-scale organic flow battery won Tencent CarbonX support for Himandhoo Island, aiming to cut diesel reliance via a microgrid with floating PV and added storage resilience. Hospitality Tech & B2B: NHGAM endorsed TechEng 2026 (6–8 Oct, Hulhumalé), positioning it as the Maldives’ B2B engineering and technology expo for hotels and guesthouses. Digital Services: Dhiraagu welcomed eeezap as an Elite Club partner, giving members 5%–15% discounts on the Maldives’ multi-service “Super App.” Tourism & Sports: SAii Lagoon Maldives hosted the Maldives’ first inter-resort padel tournament at CROSSROADS Maldives, a push for sports tourism. Air Connectivity & Travel Access: Emirates ran its first “Travel Rehearsal” at Velana for families with autism to reduce travel anxiety, while long-haul demand to the Maldives is expected to rebound after FCDO advice changes for Gulf travel. Hospitality Awards: Multiple Maldives resorts kept winning TripAdvisor and Travel + Leisure recognition, including Alila Kothaifaru and Atmosphere properties in top-tier guest-review rankings.

Tourism Trade: Travel agents say relaxing UK Foreign Office advice for the Gulf is already lifting long-haul bookings, with interest in the Maldives rising via UAE transit routes. Climate & Food Security: Maldives launched the VilunVeshi Grant Programme to fund climate resilience and food security projects, backed by the Asian Development Bank and delivered through SME Digital. Clean Energy for Outer Islands: Tencent’s CarbonX 2.0 picked Quino Energy for a MWh-scale island microgrid battery for Himandhoo, aiming to cut diesel reliance and improve resilience. Hospitality Deals & Brand Moves: Centara rolled out summer savings across its Maldives resorts, while Soneva is evolving “Barefoot Luxury” into “Bare Luxury” under KSL Capital. Awards & Recognition: Several Maldives properties kept stacking wins, including TripAdvisor Travellers’ Choice for Alila Kothaifaru and top-10% rankings for Atmosphere resorts; Villa Nautica’s infinity pool also earned Travel + Leisure recognition. Resort Experience Innovation: NOOE Maldives Kunaavashi launched a couples’ “Th.ari Under the Night Sky” spa ritual. Accessibility in Travel: Emirates ran its first “Travel Rehearsal” at Velana International Airport for children with autism, simulating the full journey to reduce anxiety.

Climate & Energy Tech: Tencent’s CarbonX 2.0 picked Quino Energy for catalytic funding to build an MWh-scale organic flow-battery for Himandhoo Island, aiming to cut costly diesel reliance via a microgrid with floating solar. Tourism Recognition: Atmosphere Hotels & Resorts scored multiple Tripadvisor top-10% placements, while Alila Kothaifaru Maldives won the 2026 Travellers’ Choice Award. Resort Upgrades: Angsana Velavaru refreshed three villa categories, and Villa Nautica’s infinity pool earned a fourth straight Travel + Leisure Asia Pacific honour. Inclusive Travel: Emirates ran its first “Travel Rehearsal” at Velana International Airport for children with autism, simulating check-in to the departure gate to reduce travel anxiety. Hospitality Leadership: Radisson Blu Resort Maldives named GM Joseph Della Gatta “General Manager of the Year” for SEAP 2025. Cruise Growth: Visit Maldives welcomed Viking Yidun, marking the first Chinese cruise ship arrival as the country pushes cruise tourism. Health Infrastructure: Maldives plans to start basic cancer diagnostics and treatment at a new 500-bed Hulhumalé hospital by 2028.