Economy
Among the key economic highlights noted on 27 September 2026, the Bank of Maldives (BML) announced that due to high foreign currency demand, processing dollar telegraphic transfers (TTs) through the bank is facing a delay of two to three weeks. Under the government's state-owned enterprise restructuring policy, a framework agreement to transfer water and sewerage services in Addu City and Fuvahmulah City to MWSC was signed by the company's Managing Director Hussain Fahumy and Fenaka's Managing Director Mohamed Afif Hassan. While more than 76 percent of the overall Thilamalé Bridge project has been completed, deck installation between Malé and Villimalé has concluded, and finishing works are progressing rapidly. In the fisheries sector, 80 percent of the work on the new 4,000-tonne cold storage facility being established in Felivaru has been completed, and Minister Ahmed Shiyam stated at the "Ahaa" forum that MIFCO will no longer export any fish that could be rejected by foreign markets. Additionally, relevant authorities are strengthening efforts to monitor vessels engaging in illegal fishing within the Maldivian maritime territory. The President has provided assurances that an additional large dredger will be procured for MTCC to expedite the company's projects. The national airline, Maldivian, has decided to launch special flights to Bangkok, Thailand, coinciding with the upcoming school holidays. In the tourism industry, the Hilton brand has expressed interest in developing more resorts and expanding investments in the Maldives. The Tourism Minister emphasized the importance of human connection and hospitality alongside modern facilities in advancing the tourism sector.
It was reported on 27 September 2026 that the issues encountered with US Dollar Telegraphic Transfers (TT) and other remittance transactions conducted through the Bank of Maldives (BML) still remain unresolved and have dragged on. Due to this issue, customers and businesses have faced major difficulties in sending money abroad and processing dollar TTs for commercial purposes. While many parties are expressing concern over the disruption or delay of these bank services, the prolonged lack of a swift and permanent solution to these transfer issues continues to heighten customer concern.
To further strengthen fish weighing and storage operations in Lh. Felivaru, the facilities of the island's new cold storage were introduced on 27 September 2026. Thanks to these new facilities, the capacity there to swiftly weigh fish caught by fishermen and store them frozen without any hindrance will increase significantly. Furthermore, this is an important step towards easing the long wait faced by fishermen when weighing fish, preserving the freshness of the fish, and speeding up the operations of the Felivaru fish canning factory.
The operation and maintenance of water and sewerage services in Addu City and Fuvahmulah City were officially handed over to the Male' Water and Sewerage Company (MWSC) on 27 September 2026. The primary objective of this change is to further improve the quality of water and sewerage services provided in these two southern cities and ensure the sustainable delivery of these services to the public. Under this agreement, all operational and maintenance responsibilities of the water and sewerage systems in these two cities will be brought under the purview of MWSC. The government has taken this step with special priority to enhance the reliability of essential services provided to citizens.
Following the assembly of the main superstructures of the Thilamalé Bridge being built under the Greater Malé Connectivity Project, final finishing works of the bridge are currently underway. These works include important stages such as asphalt paving, lane marking, and installing lighting and safety barriers. As the finishing phase of this mega project connecting Malé, Vilimalé, Gulhifalhu, and Thilafushi nears completion, relevant authorities are taking prompt measures to finish the works according to schedule and open the bridge to public traffic.
To carry out development projects across the Maldives at a rapid pace, the President, on 27 September 2026, expressed hope of procuring a large new dredger for the Maldives Transport and Contracting Company (MTCC). The President noted that the main purpose of acquiring such a modern, large dredger is to further strengthen major infrastructure works such as island land reclamation and harbor deepening, and to complete them within a short period. In addition, he stated that increasing MTCC's capacity beyond its current level would serve as a major boost to the economic and social development of the entire nation. The President also assured that the government will provide the necessary full cooperation and assistance to MTCC to achieve this goal.
In conjunction with the school holidays, the national airline, Maldivian, has launched flights to Bangkok, Thailand. These flights were initiated to provide convenience for Maldivians and families traveling abroad in connection with the school break. Since Bangkok is a destination visited by a large number of Maldivians for holidays, business, as well as medical treatment, it is expected that these flights will receive a significant response. These flights will create opportunities for direct travel for those traveling during the holiday season.
Fisheries Minister Ahmed Shiyam has given full assurance that the Maldives will not export any fish that would be rejected or not accepted by foreign markets. The Minister noted that maintaining the highest standards for the quality of fish sent from the Maldives to foreign markets is always one of the government's top priorities. He also added that the government is fully implementing all necessary measures to ensure that only good quality fish meeting international standards are exported.
Hilton will continue to develop additional resorts in the Maldives, said TJ Joulak, General Manager of Waldorf Astoria Maldives Ithaafushi, on September 27, 2026. This statement was made during a ceremony held to renew a student training agreement between the Maldives National University (MNU) and Hilton-branded resorts operating in the country. Speaking at the ceremony, the Hilton representative noted high confidence in the Maldivian tourism industry and stated that the company will always continue working to expand tourism in the country and develop additional resorts in the future. Furthermore, the company also provided assurances that the brand will always cooperate in providing Maldivian youth with practical experience and training in the tourism sector to nurture a skilled Maldivian generation.
Special operations were carried out on September 27, 2026, to halt and monitor illegal fishing activities in the Exclusive Economic Zone of the Maldives. The main objective of these operations is to ensure the security of Maldivian waters and to inspect foreign vessels entering to fish without authorization as well as other illegal activities. Accordingly, relevant authorities are strengthening monitoring to detect suspicious activities through maritime surveillance systems and protect national marine resources.
In a message delivered on 27 September 2026 in connection with World Tourism Day, the Minister specially highlighted the importance of human connection and hospitality in the tourism sector. The Minister stated that despite the introduction of modern advancements and new technologies to this field, the kindness and human connection possessed by Maldivians in welcoming tourists and providing service is an irreplaceable, valuable trait. Furthermore, the Minister's remarks emphasized the importance of paying attention to developing human resources alongside modern facilities and further strengthening human relationships in order to maintain the Maldives' tourism brand at the forefront of the world.