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Discussions held on deepening UK-Maldives trade and investment relations

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Discussions have been held on deepening trade and investment relations between the Maldives and the UK.

The discussions took place during a meeting between Maldivian Economic Minister Mohamed Saeed and UK’s Minister of State for Trade Greg Hands.

Minister Saeed is presently on an official visit to the UK to attend the Commonwealth Trade and Investment Roundtable and seek assistance from the participants of the UK financial sector in order to develop a vibrant financial market in the Maldives.

Sharing the details of his meeting with Hands via a post on X, Minister Saeed said discussions were held on deepening trade and investment relations between the Maldives and the UK.

He further added that seeking UK’s experience in developing Maldives’ financial industry and broadening the scope of the Free Trade Agreement (FTA) remains a priority of President Dr. Mohamed Muizzu.

During this visit, Minister Saeed is set to meet UK government officials, members of the House of Lords and representatives from the UK financial and professional services industry.

Source(s): sun.mv

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Fishers continue protest over unpaid dues

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The protests, by local fishers that kicked off on Friday at Maldives Industrial Fisheries Company (MIFCO)’s Addu harbor, are still ongoing.

Maldives Police Service confirms a total of 80 fishermen are still at the harbor, who have warned to shut the factory down if senior officials fail to respond to them.

Some protesters have warned to interrupt the factory’s kitchen operations as well.

Addu City Hulhudhoo’s council member Hussain Faizurrahman confirms the fishers were protesting about the money MIFCO owed them.

He also added since the protests are proceeding at a MIFCO-managed venue, it was not creating any difficulties for the general public of the city.

Owing to significant delays in outstanding payments to fishers, the Bodu Kanneli Masvering Union (BKMU) – a union representing yellowfin tuna fishers – organized a protest earlier on June 12, making multiple demands from the government.

The BKMU-led protests in early June were called-off the following day’s midnight, after the government agreed to slice fuel prices for fishers.

The state made its last disbursement on June 13, which was a payment of MVR 46 million out of the MVR 80 million government owed to fishers, and promised to settle the remainder soon.

MIFCO confirmed to ‘Sun’ there have been no significant accruals to the pending total, adding it was because fisheries activities had slowed down currently.

The company however, did not confirm how much it owed to fishers in pending total now.

Source(s): sun.mv

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New local markets to be established in collaboration with Government

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Mayor of Male’ City Council Adam Azim has stated that new local markets, including fish markets, will be established with the assistance of the government. The mayor highlighted that the collaboration of the government will significantly benefit the Council and the government as well as the residents.

Speaking at a programme aired on PSM News, Mayor Azim disclosed that works to develop and advance the fish market were ongoing under the Ministry of Construction and Infrastructure when he began his tenure. He reiterated the Council’s commitment to provide all the necessary support to the government pertaining to the developmental initiative.

Furthermore, Mayor Azim stated that the two land plots allocated for the establishment of a temporary market were insufficient for the existing market cells. Hence, an additional land plot has been designated and handed over to the ministry as well.

The government has decided to develop the local fish market such that it is a seven-storey market. It additionally announced that the establishment of the permanent market will commence upon completion of the development of the temporary market. This development aims to address space constraints effectively, with provisions for dedicated parking areas to alleviate traffic congestion in the area.

The transfer of market services to operate under one roof is an ambitious vision of President Dr. Mohamed Muizzu, with substantial progress reported by the government on various aspects of the project.

Source(s): PsmNews

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Companies show interest in developing Fuvahmulah Tourism Zone: RACL

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Managing Director of Regional Airports Company Limited (RACL) Ahmed Mubeen has said that two companies have shown interest in developing rooms in the Fuvahmulah Tourism Zone.

An agreement was signed in April this year to develop a tourism zone in Fuvahmulah City. The new RACL management aims to make the company profitable without relying on government financial support. To achieve this, a master plan has been created for the company’s operations, and the company’s responsibilities have been expanded to include more business ventures.

As part of this initiative, RACL has signed an agreement with the Fuvahmulah City Council to develop a tourism zone that includes Fuvahmulah Airport and the surrounding beach area. The project plans to build 400 rooms and provide various recreational activities for tourists.

Speaking to PSM News, Mubeen said that two companies are already interested in developing the rooms in the tourism zone. He said that they are currently securing the necessary permits from the government and making other preparations to commence work.

The Fuvahmulah City Council highlighted the company’s efforts of to develop the tourism zone would greatly benefit the city. It said that the development is expected to create more jobs in the densely populated area and open up additional opportunities for private businesses.

RACL, which manages eight airports, is collaborating with local island councils to expand its business ventures. It includes opportunities in tourism, agriculture, and revenue-generating advertising in airport areas. In addition, RACL is exploring opportunities to sell jet fuel in partnership with the government and private businesses.

Source(s): PsmNews

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