Economy

The "Maldives Intellectual Property Office" was officially established on January 1, 2026, to legally protect the rights of new inventions and technical works produced in the Maldives, and to manage matters related to intellectual property. The main purpose of establishing this office is to protect copyright and trademark rights of various products produced in the country, and to build a favorable environment for technical workers in the economic sector. Through this institution, Maldivian creators' inventions will receive legal protection in accordance with international standards. Therefore, this is an important step taken to strengthen the business and innovation sector of the Maldives.

Road Development Corporation (RDC) officially launched its new logo on January 1, 2026, coinciding with the new year. This new logo is a modern change designed to symbolize the company's vision and progress. The change was brought about with the beginning of the new year with the aim of starting the company's new services and goals with a new beginning. RDC says that with this new branding, road construction projects in the Maldives will be further enhanced.

The Maldives Customs Service has further strengthened the regulations pertaining to the valuation of goods and duty exemptions for vehicles, effective from January 1, 2026. The main objective of these changes is to accurately determine the value of imported goods, prevent the irregular use of vehicles, and ensure the revenue due to the state. Under this new regulation, the standards for the use of duty-exempt vehicles have been tightened, and Customs control has been strengthened compared to before.

It was announced on 1 January 2026 that small and medium enterprises (SMEs) will be given priority in the bidding and procurement process for Dhivehi government projects. The main objective of this policy is to accelerate the economic pace of the Maldives by facilitating opportunities for small businesses and providing them with financial advancement through the government procurement system. Under this new rule, special priority arrangements have now been made for SMEs when applying for government projects. The government notes that this decision, which came into effect with the new year, is an important step towards empowering self-employed people and small business owners in the Maldives.

With the significant achievements Maldives has attained in the tourism sector, the 2025 review and last year's records were published on 1 January 2026. The report reveals that the past year, 2025, was the year with the most tourist visits in the history of Maldives, with record levels of progress in all areas of tourism. In celebration of this achievement, the government and senior figures in the tourism sector have noted that the role of tourism in the economic development of Maldives is further strengthening. And as the new year was greeted, these statistics confirm that Maldives remains one of the world's most popular destinations.

Maldives Transport and Contracting Company (MTCC) published the financial report for the third quarter of 2025 on 1 January 2026. According to the report, the company has achieved remarkable progress in terms of revenue and profit in the third quarter of the past year, strengthening the company's financial momentum. The company stated that this achievement is the result of MTCC's ongoing efforts to strengthen infrastructure development projects and transportation services. Furthermore, the statistics released at the beginning of the new year indicate that the benefits to the company's shareholders are increasing, and there are signs that the company will become even more financially sound in the future.

Under the "New Policy on Bringing Foreign Workers and Determining Quotas," which comes into effect on January 1, 2026, it has been decided to control the extent to which foreigners are employed in the Maldives and to increase opportunities for Maldivians in the job market. The main objective of these reforms is to find a permanent solution to the issue of undocumented foreigners, to strengthen the procedures for issuing quotas based on the needs of the sectors, and to change the economic momentum. With this new policy, there have been major changes to the standards that companies must follow when employing foreigners, and this is an important step towards ensuring national security and workers' rights.

Maldives Industrial Fisheries Company (MIFCO) started reviewing the details of the money released to fishermen in 2025 on January 1, 2026. This review is being conducted to identify the amount that remains unpaid from the money due to fishermen for the fish caught last year, and the challenges in making payments. In addition, relevant parties are consulting on the rates of payments to be given to fishermen and the changes that can be brought to the payment system as part of this review. The main purpose of this work is to establish a system in the future that will ensure fishermen receive their wages quickly, within the established procedure.

The Road Development Corporation (RDC) disclosed the performance report on the progress of its projects, and detailed reports of the financial losses incurred by the company, on 1 January 2026. These reports highlight the steps that need to be taken to strengthen the company's operations and the challenges faced in completing projects. It also serves as important documents compiled to increase the company's transparency and improve the financial outcomes of its projects. While the company's financial situation and work performance are clearly evident from these reports, it is believed that these will be the standards used in planning future projects.

The Maldivian Ambassador to China, Fazyl, provided information and further promoted the benefits of the Free Trade Agreement between the Maldives and China, which will come into effect on 1 January 2026. The Ambassador noted that this agreement will expand trade between the two countries and bring positive changes to the Maldivian economic sector. This activity of Ambassador Fazyl is an important effort to create opportunities for Maldivian products in the Chinese market and to take the economic relations between the two countries to new heights.