Economy

The Maldives and China officially signed an 85 million US dollar development agreement on Thursday, December 25, 2025. Under this agreement, the Chinese government is set to provide financial assistance for important projects for the economic and social development of the Maldives. This agreement, which will further strengthen the close relationship between the two countries, is an important step towards accelerating the pace of infrastructure development in the Maldives. It is believed that this assistance will greatly advance the development works underway in various parts of the Maldives.

President Dr. Mohamed Muizzu has decided to arrange a two-year concession plan or relief measures specifically for small and medium enterprises (SME) in the Maldives and announced it on 25 December 2025. The main objective of this project is to assist businesses in overcoming economic challenges and to facilitate the sustainable operation of businesses by providing relief in loan repayments and other financial obligations over the next two years. This decision is an important reform measure formulated under the government's special policy to promote the progress and increase the financial prosperity of small businesses in the Maldives.

Maldives Customs Service has decided to change its goods clearance services to 24 hours and has started practically implementing it from 25 December 2025. With this change, a solution has been found for the difficulties faced by businesses and the public, and the opportunity to carry out the work of removing goods from the ports without interruption has now been opened. This decision by Customs is an important step towards accelerating the economic activities of the Maldives and eliminating the obstacles in supplying goods. In addition, under this new rule, the unloading of goods from ships and the completion of paperwork can now be carried out at any time through Customs.

SME Digital has today introduced the "Vessel Financing Scheme" to provide financial assistance to small and medium enterprises for the purchase and repair of vessels. The company informs that this scheme is designed to provide easy access to the necessary funds for businesses active in the maritime and fisheries sectors. The main objective of this scheme, which is run with the help of a digital platform, is to find a solution to the difficulties in acquiring modern vessels and to increase the productivity of small businesses active in the economic sector of the Maldives. Under this new financing opportunity, businesses will be able to obtain the financial assistance needed to build vessels, replace engines, and expand transportation services.

It was revealed on 25 December 2025 that the newly launched bunkering service in the Maldives has generated an income of 282 million Maldivian Rufiyaa for the state. This significant income is an important achievement attained under the project initiated to boost the Maldivian economy and profit from the maritime industry. This money earned by providing fuel to international vessels traveling through Maldivian waters is a strong step taken to increase national productivity. It is believed that this project has brought new life to the Maldivian economy and that this industry will further expand in the future.

The G. Dh. Faresmaathodaa land reclamation project and the Fiyoari road construction project of the same atoll have been officially handed over to a party. The agreement to proceed with these two projects was signed at a ceremony held on Thursday, December 25, 2025, and these are important works being carried out for the development of those islands. It is reported that under these projects, the difficulties faced by the land of Faresmaathodaa will be solved, and the roads of Fiyoari will be developed to a modern standard. The government has awarded these projects to be completed within a specified period.

The practical works of widening Male's Boduthakurufaanu Magu and sheet piling in the market area were officially commenced on 25 December 2025. This project is an important undertaking prioritized by the government to reduce congestion in the area, increase space on market roads, and strengthen the transportation system. With the sheet piling work, the coastal infrastructure will be strengthened, and a permanent solution to the space constraints facing the market area will be achieved through the work that began on this date.

On Thursday, December 25, 2025, the upcoming year 2026 was officially designated and announced as the "National Year of Productivity." This decision is an important one aimed at accelerating the country's economic momentum, increasing output in various sectors, and raising the bar for work performance. During this year, government institutions and the private sector will work together to plan special programs and reforms to increase productivity. The main purpose of designating such a year at the national level is to make the best use of resources and take efforts towards sustainable development to a new level.