Economy

Special measures and concessions to promote small and medium enterprises (SMEs) have been decided and officially announced on December 28, 2025. The main objective of these reform measures is to assist businesses in overcoming economic challenges, provide solutions to financial difficulties, and facilitate the sustainable continuation of businesses. The announcements include tax benefits, loan repayment concessions, and increased technical assistance for businesses. It has been revealed in connection with this decision that these measures taken to strengthen the SME sector will increase national productivity and expand employment opportunities.

The company that manages Velana International Airport (VIA) has announced that the number of tourists and travelers who visited the airport on Sunday, December 28, 2025, was higher than ever recorded before. As this is the busiest period for tourism in the Maldives, special measures have been taken to ensure the airport's operations continue uninterrupted. Due to a large number of private jets and international flights landing simultaneously, the airport's terminals and runway have been extremely busy. Therefore, the airport is working to further strengthen ground handling and security services to facilitate travelers and provide smooth services.

The number of tourists visiting the Maldives has reached 2.2 million in 2025, setting a new tourism record today. To celebrate this historic achievement, special events have been held at Velana International Airport, marking a significant advancement for the Maldives' tourism industry. This year's statistics show that the Maldives has proven to remain one of the world's most popular destinations. The government and tourism sectors expect that this progress will bring significant benefits to the Maldives' economy in the future.

Highsky flights from Terminal 1 of Velana International Airport officially commenced today, marking a significant step in expanding the airport's operations. With this new service, arrangements have been made at Terminal 1 for travelers to check in and board flights with ease. It is believed that this service, which began on December 28, 2025, will reduce airport traffic and further enhance the quality of service provided to passengers. Highsky's use of Terminal 1 is part of the airline's ongoing efforts to further expand its services.

It was announced on December 28, 2025 that the banks of Maldives will be closed for the upcoming four days, coinciding with the New Year of 2026. With this decision, the suspension of bank services is scheduled due to the work required at the end of the year and the coincidence with the holidays. Banks have advised customers to use ATM and online banking services during this period of bank closures. Banks will reopen and resume public services after the holidays.

The latest statistics regarding the revenue generated from the newly launched bunkering service in the Maldives were released on December 28, 2025. In this update, details of the profits earned by the state from the bunkering industry during the past period, and the changes brought to the economic sector due to this service, have been disclosed. This service of fueling cargo ships traveling through the maritime territory of the Maldives is an important initiative undertaken to increase the income of the Maldives. According to the information released today, official revenue figures for the bunkering service are now beginning to reach previously estimated levels.

Manta Air has been heavily fined after a case emerged of the company establishing a seaplane platform without permission. This was revealed in a statement issued by the relevant authorities on 28 December 2025. This action was taken in connection with the establishment of an infrastructure used for operations without obtaining permission from the relevant institutions, in violation of the established procedures. Relevant authorities have noted that this is a strong step taken to enforce compliance with aviation regulations.

It was announced on December 28, 2025, that important works have commenced to further strengthen and enhance public transport and taxi services in the Maldives. The main objective of these reforms is to improve the quality of transport services provided to the public and to establish arrangements for easy travel. Under the new policies formulated to strengthen this sector, the review of regulations to facilitate service providers and users is included. In addition, this decision will pave the way for further expansion of the public transport system and finding a permanent solution to the challenges faced in providing taxi services.

At this juncture, where the internal debt of the Maldives has increased and financial challenges are being faced, on December 28, 2025, the government decided to take stringent measures to reduce state expenditures. According to economic experts, the difficulties currently faced in debt management have put significant pressure on the banking system and the financial market of the Maldives. Today, it has been revealed that the central bank and the Ministry of Finance have jointly initiated debt restructuring efforts to overcome these issues. The government is now prioritizing finding new ways to increase revenue in order to improve the state's financial situation.

It was revealed on 28 December 2025 that there are major public concerns regarding a fish factory and a housing project. Many people are questioning the environmental impacts of these projects and the potential changes to the living area, and the public is awaiting a response from the relevant authorities regarding this. It is noted that further discussions are needed regarding the progress of these projects and the challenges that may arise as a result.

On December 28, 2025, significant progress was made in the development of Hanimadhoo International Airport and Maafaru International Airport. Under these projects, the aviation services of these two airports have been expanded, and international travel opportunities have been further strengthened with the changes brought to the infrastructure. As a result of this development, the tourism and economic sectors of the north and central regions of the Maldives will benefit greatly. The operations of the airports have now been designed to a standard that will allow for faster and more complete services than before with these new changes.

The government has awarded important development projects in some islands of the Maldives to Maldives Transport and Contracting Company (MTCC) and Road Development Corporation (RDC) on December 28, 2025. These projects include road construction, port development, and the establishment of social infrastructure facilities. The purpose of these projects is to improve the standard of living and facilitate economic opportunities in the islands. The relevant authorities signed these agreements today, marking an important step in the government's efforts to accelerate infrastructure development in the atolls. It is believed that these projects will provide a permanent solution to the difficulties faced by the islands, as the practical work progresses according to the established schedule.