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Local market to be dismantled after Ramadan; replaced with modern one

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President Dr. Mohamed Muizzu says he plans on dismantling the local market in Maldivian capital and directing the construction of a new and modern one, after the upcoming holy month of Ramadan.

On the Q&A platform ‘Raeesge Javaab’, local vendor Abdulla Ibrahim Manik told President Muizzu that he does not believe the local market in Male’ City is appropriate for the sale of food.

He also asked the president to stop the sub-lease of stalls at the market to foreigners.

President Muizzu said that he, too, does not believe the local market and traveler’s market in Male’ are up to standard.

He said that his administration has authorized the city council to replace both markets with a four-story structure.

He said the project would begin in April, after the month of Ramadan.

“…a modern four-story-tall modern market that will have space for products currently sold at the local market, the fish market and the traveler’s market. The building will also have a basement parking space,” he said.

He said the new market will be more spacious and cleaner.

President Muizzu also promised to work together with all local venders to stop the sub-lease of stalls at the market.

Source(s): sun.mv

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SDFC expands funding assistance for reef fishers, related SMEs

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The SME Development Finance Corporation (SDFC) has added new categories to the ‘Kandufalhuge Nafaa’ loan facility; specifically “targeted toward supporting the growth and development of reef fisheries”.

SDFC will issue up to a maximum of MVR 700,000 in funding towards the development of reef fisheries; by way of financing either local fishers or small-to-medium (SMEs) enterprises operating in reef fishing activities.

The loan facility is subject to an interest rate of 5% with a six-month grace period, and a 10-year repayment period.

SDFC further highlights that all the vessels financed under the loan would be held as collateral or mortgage.

Expenses exceeding the maximum MVR 700,000 ceiling of the loan facility should be incurred by the debtor, added SDFC.

The facility is specifically targeted for reef fishers, suppliers of reef fish; either processed, packed or frozen to be sold at industrial capacity, exporters, and local suppliers from the atolls.

SDFC further highlighted that the facility is aimed at boosting specific activities of any individual or SME operating in reef fisheries sector, and they include;

  • To develop a new vessel or repair existing vessel used in reef fisheries activities
  • Installation of engines in vessels used for reef fishing
  • Procurement/purchase of equipment used in navigating or commandeering the vessel
  • For repairs and modifications of a vessel used in reef fishing
  • Procurement/purchase of fish processing machinery and equipment
  • Procurement/purchase of packing materials and equipment

Source(s): sun.mv

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Maldivian lowers surfboard transport fees as pledged by President

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Island Aviation Services Limited (IASL) has announced the fee reduction for transporting surfboards via the national airline, Maldivian, as pledged by President Dr. Mohamed Muizzu.

As such, the national airline has announced reduced fees for surfboard transportation. Charges for larger surfboards were decreased by 33%, while smaller ones saw a reduction of 66%, marking a tangible step towards supporting local businesses and promoting tourism.

President Dr. Muizzu responded to concerns raised by Surfing Operator Ahmed Rasheed from Gadhdhoo in Gaafu Dhaalu Atoll, during the “Raees ge Javaab” series, where citizens directly engage with the President on various issues.

During the session, Rasheed highlighted the steep fees imposed by the national airline for transporting surfboards, stressing the impact on local businesses in Gaafu Dhaalu Atoll. Acknowledging the significance of the issue, Dr. Muizzu committed to reducing the fees, recognising their adverse effects on surf-related enterprises and the tourism sector. Stressing surfing’s vital role in the Maldives’ economy, particularly in Gadhdhoo, the President swiftly acted to fulfill his pledge.

Source(s): PsmNews

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Govt launches ‘Addu Asseyri Tourism Development Plan’

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The Tourism Ministry has launched the ‘Addu Asseyri Tourism Development Plan’, an initiative under the administration’s ‘Hafuthaa 14’ roadmap.

The project was launched in a ceremony attended by Tourism Minister Ibrahim Faisal and Addu City Mayor Ali Nizar in a ceremony held at the Addu City Council on Thursday.

According to the Tourism Ministry, the ‘Addu Asseyri Tourism Development Plan’ is in line with the administration’s ambitious first 100-day pledge to formulate and introduce a specialized tourism project for Addu City.

Developed by CDC Consulting, the comprehensive five-year destination development strategy is accompanied by a detailed situational analysis report.

According to the Tourism Ministry, the plan is strategically crafted to not only enhance tourism in the region, but also to make a substantial contribution to the local economy of Addu, reflecting President Dr. Mohamed Muizzu’s commitment to transformative initiatives.

The plan also encompasses key presidential pledges to Addu city, including the establishment of 6,000 tourist beds, the creation of 10,000 jobs, the revitalization of Shangri-La operations, and the establishment of a seaplane hub within the first year of the presidency.

Tourism Ministry says the initiatives will transform Addu City into a thriving tourism hub, offering unparalleled opportunities for growth and prosperity.

The plan also outlines a range of developments, such as the creation of cultural village, wellness zones, marine protected areas, and hospitality school.

According to the Tourism Ministry, the initiatives not only aim to attract visitors, but also to showcase the rich heritage and natural beauty of Addu City, providing a unique and immersive experience for tourists and locals alike.

Source(s): sun.mv

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