Economy

As part of the special operation launched by the government to stop businesses illegally run by foreigners in the Maldives, a total of 66 businesses were shut down on December 27, 2025. These businesses were penalized. The raids, conducted jointly by Immigration and the Police in different areas of Male', targeted small and medium-sized businesses run primarily by foreigners, and food service establishments operating illegally. This operation is a strong step taken by the government on this day as part of its efforts to reduce businesses illegally run by foreigners in the Maldivian economic sector and to bring things within the legal framework. A large number of foreigners have been taken into the custody of Immigration during this operation, and the relevant authorities have stated that legal action will also be taken against Maldivian parties running such places.

The President has today announced that the Chinese government has decided to provide the Maldives with free aid of MVR 1.3 billion. The President noted that this aid is being given by China to support the development projects of the Maldives and to further strengthen the relationship between the two countries. It has been decided that this money will be mainly used for the economic progress of the Maldives and for carrying out important infrastructure development works. The government believes that this decision, announced on 27 December 2025, is a major assistance to strengthen the financial situation of the Maldives.

The issue of the significant financial losses being incurred by Island Aviation Services Limited and the grounding of a large number of aircraft, taking them out of operation, was sent to the Finance Committee of the Parliament on 27 December 2025 for review and study. This issue was submitted to the committee to identify the challenges facing the company due to the decline in the operation of the national airline and the interruption of flights, in addition to the adverse effects on the state budget. The Finance Committee has now accepted the issue and has begun work to obtain a detailed report on Island Aviation's financial situation and fleet management. As part of this investigation, it has also been decided to summon the company's financial executives and board members to the committee for questioning.

The Hanimaadhoo International Airport development project concluded, and on Saturday, December 27, 2025, a commercial jet landed at the airport for the first time. This historic flight was an important event to mark the start of using the airport's new runway and modern facilities, and it is a major advancement for tourism in the north of the Maldives. With this flight, the ability for large international aircraft to land directly at Hanimaadhoo has now been officially proven.

The opportunity to participate in the "Street Market" organized by Crossroads Maldives was opened to the public on December 27, 2025. This market is a special platform that facilitates small and medium-sized businesses and artisans to showcase and sell their products. Applications can now be submitted by those wishing to participate in this event, and this is a good opportunity for those working in the tourism sector in the Maldives and general business people.

The deadline given by the Ministry of Economic Development and Trade to reactivate inactive companies expired on Saturday, December 27, 2025. The Ministry of Economic Affairs opened this opportunity for those who want to restart businesses from among the companies that have been decided to be dissolved for not paying annual reports and fees under the Companies Act to submit their requests. Following the expiration of this deadline, the Ministry has now begun the final stages of removing companies that have not applied for reactivation from the company registry. According to official information, no further opportunities will be given to any company that has not applied by today under this work being carried out to update the business registry.

The Ministry of Construction and Infrastructure officially handed over the road construction project of GDh. Fiyoari to Road Development Corporation (RDC) today, 27 December 2025. Under this project, the company has revealed that tarring of the main roads of the island, establishing a drainage system, and installing streetlights will be carried out. This work is an important project undertaken by the government to strengthen the transport system of Fiyoari and to provide a permanent solution to the problems of dust and flooding faced by the people of the island. RDC has now started the necessary preparations for the commencement of the practical works of the project.

According to statistics released by the World Bank on December 27, 2025, the economic growth rate of the Maldives is projected to grow at 3.9 percent in the future. The report notes that these figures are estimates compiled by the bank, taking into account changes in the tourism and construction sectors of the Maldives. In addition, the World Bank report outlines the work needed to be done to maintain economic stability, considering changes in global commodity prices and the level of government debt.

With the changes brought to the regulations of Bank of Maldives (BML) and Customs on December 27, 2025, significant reforms have been introduced to the banking system of the Maldives and the procedures for importing goods. According to reports related to this decision, the main objective of these changes is to further strengthen financial transactions, expand the role of the banking system in customs procedures, and expedite matters. In addition, these new rules will require businesses to follow new procedures in clearing goods and conducting financial transactions. These changes to banking and customs regulations are noted as a step towards modernizing the economic management of the Maldives.

Coinciding with the peak tourist season this year, the number of private jets landing at Noonu Atoll Maafaru International Airport on December 27, 2025, has increased significantly, giving a major boost to tourism in the region. As this period sees a large number of wealthy tourists visiting the Maldives for vacation, Maafaru Airport's operations have been greatly strengthened compared to other years. Especially due to the tourists coming to Noonu Atoll, which has many high-end resorts, the airport's jet movements have been intensified, and it is noted that this is one of the days with the most jets landing at the airport this season. This advancement at Maafaru Airport, which is considered the main gateway to northern tourism, is a major boost to the Maldivian economy and the tourism industry.