Economy.
Statistics from the Ministry of Finance showed that the state received 30.8 billion Rufiyaa as revenue and grants by 1 October of this year. Eagle Hills Chairman Mohamed Alabbar arrived in the Maldives to hold high-level discussions regarding the "Maldives Waterfront and Marina" project being developed in Ras Malé. Preparations have been made to launch new private jet flights between Dubai and the Maldives. VietJet has begun selling tickets at special fares for Maldivian travelers. The Economic Crime Department of the Police conducted a major operation on 7 October 2026, searching a retail shop and other premises in Malé in connection with an illegal banking services and black-market dollar exchange case.
The Chairman of Eagle Hills, a prominent real estate company in the United Arab Emirates (UAE), Mohamed Alabbar, has arrived in the Maldives and held important meetings with senior government officials. Discussions held during this visit mainly focused on the progress of the "Maldives Waterfront and Marina" project slated for development in Ras Malé, and on further strengthening bilateral commercial ties. Additionally, extensive views were exchanged during these meetings regarding the opportunities that would be created for the Maldivian economy and the job market under this massive investment.
An issue involving the illegal sale of US dollars on the black market and the provision of unauthorized banking services has surfaced, and relevant authorities have begun looking into the matter. As conducting foreign currency transactions outside the formal system and providing financial services illegally can have adverse impacts on the Maldives' financial system, efforts to identify those engaging in such acts have commenced. Furthermore, relevant institutions are currently investigating the matter further to take legal action against such illicit businesses and transactions.
As Vietnam's popular airline VietJet prepares to commence flights to the Maldives, a promotion offering tickets at special fares aimed at Maldivians and travelers was announced on October 7, 2026; accordingly, excluding taxes and fees, Eco class tickets were introduced starting from zero Vietnamese Dong (0 VND) along with a 20 percent discount on Deluxe class. Under this promotion, ticket booking has been opened from October 8 to 10, and the airline is scheduled to operate three flights a week between Ho Chi Minh City and Male'. This comes as Vietnam is gaining great popularity among Maldivians as a holiday destination, and will further strengthen travel connectivity between the two countries.
Private jet flights between Dubai and the Maldives officially commenced on 7 October 2026. The primary purpose of starting these flights is to facilitate convenient travel arrangements for tourists and business travelers flying to the Maldives from the United Arab Emirates (UAE) and Middle Eastern countries. Additionally, this service will increase the number of high-end tourists visiting the Maldives and further strengthen air travel and economic relations between the two countries.
It has been revealed that the state received 30.8 billion Rufiyaa in revenue during the first nine months of this year. According to state financial records, this is the total amount of revenue credited to the state budget so far this year. A major portion of this revenue is accounted for by money received through taxes and non-tax revenues collected by the state. With revenue increasing to this extent during the first nine months of the year, this serves as an important step toward achieving the state's established financial goals.
