Business

N-able expands business footprint to the Maldives

Published

2 years ago

28/11/2021

MNN

N-able (Private) Limited, Sri Lanka’s leading technology solutions provider advances into new frontiers by expanding its footprint, to extend its Design Consultancy and Engineering services to customers in the Maldives. N-able plans to share its experience with prospective customers, with the aspiration of delivering business outcomes, and enable customers to do better business.

N-able will partner with solutions providers in the Maldives and act as the solutions partner to design and implement end-to-end solutions in the domains of infrastructure-centric and application-centric solution areas.

As a solutions provider which prides itself in possessing both the resources and capabilities to design and implement solutions, N-able has the capacity to meet the wide variety of dynamic customer needs. The Company plans to draw from its prior experience in serving several different international markets.

Commenting on the expansion drive, the CEO of N-able, Asanka Bimal Rajasinghe, stated, “Bringing together our extensive experience in providing cutting-edge technology solutions to a broad spectrum of industries, spanning several technological verticals, N able is delighted to take the next step by extending our business footprint, on an international level. We are excited to make the Maldives an initial part of our global expansion drive, as we seek to strengthen our regional business presence.”

“Over the years, we were fortunate that our existing customers made N-able an integral part of their strategic IT and transformative business initiatives, which provided us the opportunity to enhance our skills and give us the courage to go beyond the shores. Now, we are eager to extend our capabilities and share our expertise in new geographies”, he further added.

Highlighting N-able’s long-term goals with the global expansion, Head of Operations Sameera Viraj Kodituwakku stated, “We are immensely proud to announce our forthcoming expansion to the Maldives. Our intention has always been to create a positive impact by leveraging technology to support entities to do better business. We see the Maldives as a market of great potential for business growth. We intend to support the growing and demanding business needs, which have emerged as a result of the thriving economy of the Maldives, from a technology solutions perspective.”

Established in 2008, N-able has positioned itself as a unique provider of Information and Communications Technology services, enabling businesses to create enhanced value for their customers and stakeholders in the Telecom, Banking and Financial, Government, and Enterprise sectors. Throughout the years, N-able has driven a multitude of key multi-sectorial technology projects in Sri Lanka and beyond, under the prime objective of connecting people and things, with insights, for an efficient and intelligent world.

Business

Maldives records USD 802.2 million in first four months

Published

17 hours ago

19/05/2024

The Ministry of Finance has disclosed that the state received USD 802.2 million in revenue during the first four months of this year, marking a significant 4.2% increase compared to the same period last year.

This revenue breakdown comprises USD 660 million in tax revenue, USD 129.4 million in non-tax revenue, and USD 5 million in aid to administration.

Tax revenue is primarily derived from Import Duty, Business and Property Tax (BPT), and Goods and Service Tax (GST), with figures as follows:

– Import Duty: USD 60.3 million
– BPT: USD 168.2 million
– GST: USD 375.2 million
– Green Tax: USD 27 million
– Airport Service Charge and Departure Tax: USD 25.1 million

Moreover, financial data indicates that the current administration has notably reduced overall expenses compared to the previous year.

Total government expenditures for the first four months of this year stand at USD 925.1 million, a significant decrease from last year’s USD 1.04 billion. This includes USD 724.6 million in recurrent expenses and USD 194.1 million in capital expenditure. Recurrent expenses prominently consist of USD 284.7 million in salaries and allowances and USD 433.4 million in administrative expenses, while capital expenditures primarily involve infrastructural development projects.

Source(s): PsmNews

Business

CWEIC office to establish in Maldives, Janah as Chair

Published

3 days ago

16/05/2024

Commonwealth Enterprise and Investment Council (CWEIC) has announced decision to establish its office in the Maldives, and appoint President Dr. Mohamed Muizzu’s Principal Advisor Mohamed Ali Janah as its Country Chair.

CWEIC in a statement on Thursday, said the office will be established to connect the Maldives government with international investors and businesses.

The Maldives hub office of CWEIC will play a vital role in seeking prospective investment opportunities from all 56-member nations of the Commonwealth. The office will also enhance strategic alliances and partnerships between these countries and the Maldivian government.

Veteran entrepreneur, Janah boasts of over 30 years of business relations with the Middle East.

Source(s): sun.mv

Business

Dubai company awarded the development of SEZ

Published

1 week ago

12/05/2024

An agreement has been signed by the Maldivian administration with UAE’s International Free Zone Authority (IFZA) to develop Special Economic Zones (SEZ) in the Maldives.

The agreement, officially co-signed by Minister of Economic Development and Trade Mohamed Saeed and IFZA Chairman Martin Gregers Pedersen during a special ceremony, marks a significant milestone in economic development.

Speaking at the ceremony, Minister Saeed emphasized the timeline for finalizing the agreement, committing to reach a consensus within the next four months. As part of the agreement, Fonadhoo in Kaafu Atoll will be transformed into a financial hub, featuring a new financial center and a bridge connecting Male’ and Hulhule. IFZA will bear the expenses for these developments.

The Ministry of Economic Development and Trade further highlighted plans for the Economic Gateway project in Ihavandhippolhu, aiming to attract investors with IFZA’s expertise. Addressing the attendees, Chairman Pedersen expressed confidence in the success of the project, underscoring collaborations with investors to further enhance opportunities in the Maldives.

The development of SEZs remarkably aligns with the President Dr. Mohamed Muizzu’s vision to diversify the economy and stimulate financial growth. The Maldivian administration is optimistic about attracting future investments and positioning the country as a desirable destination for business opportunities.

Source(s): PsmNews