AGP Executive Report

Pakistan Visit: President Mohamed Muizzu and Prime Minister Shehbaz Sharif exchanged 20 agreements covering defence, maritime security, technology, health, education and tourism, and set a goal of lifting bilateral trade from $13.9 million to $200 million within two years. Direct flights are also under discussion. Tourism Tax: The government has submitted a bill to repeal the GST on foreign travel agencies and offshore booking platforms, following industry objections. The measure would also require refunds of tax collected since October 1. Airport Capacity: Velana International Airport will move check-in for 10 airlines to Terminal 2 from October 25, bringing both terminals into international service for the busy winter season.

Pakistan Visit: President Mohamed Muizzu arrived in Islamabad for a three-day state visit, the first by a Maldivian president in 11 years. Talks are expected to cover trade, investment, defence and maritime security, alongside a Pakistan–Maldives business forum and planned cooperation agreements. Tourism Tax: The government has asked Parliament to repeal the 17% GST on foreign travel agents and booking platforms, reversing a measure introduced on October 1 after industry objections. Rasmale’ Development: Muizzu says buyers will hold 99-year leases and can resell properties only to the Maldivian government, which will decide whether they may be transferred. Tourism and Business: Sri Lankan hospitality suppliers are seeking a larger share of the Maldives’ tourism market, while BML has opened applications for two MVR 500,000 startup grants. Environment: Advocacy group Save Maldives warned that the removal of mature trees across several islands threatens local communities and biodiversity.

Pakistan Visit: President Mohamed Muizzu arrived in Islamabad for a three-day state visit, the first by a Maldivian president in 11 years. Talks and a business forum are expected to explore trade, investment, health, tourism and defence ties, with cooperation agreements anticipated. Police Investigation: Police are probing a former deputy minister’s deleted social media post urging people to set fire to the Supreme Court, President’s Office and Parliament. Tourism Tax: The government has proposed repealing the 17% GST on services provided by overseas booking platforms and travel agents, after industry concerns. Public Safety: Police reported MVR 387,881 in losses across 38 scam cases last week, with social media linked to most online crimes reported this year. Health Security: The Maldives is hosting a WHO regional meeting on pandemic preparedness, bringing together officials and specialists from across the region.

Pakistan Visit: President Mohamed Muizzu begins a three-day state visit today, the first by a Maldivian president in 11 years. A business forum will seek new trade and investment opportunities, with agreements expected. Rasmale’ Dispute: A new silent protest movement is calling for the suspension of the Eagle Hills project, citing concerns over transparency. Health: The Maldives is hosting a WHO regional meeting on pandemic preparedness through October 22, while Chinese specialists are working with Addu Equatorial Hospital on maternal and child health. Scam Losses: Police say 38 reported cases cost nearly MVR388,000 last week; about MVR209,000 has been recovered. Financial Support: India has rolled over about US$316 million in currency-swap support, extending repayment time but not adding new funds. Tourism and Waste: Tourist arrivals fell 3.9% year-on-year in the first half of October. A UN report also identifies the Maldives as having the world’s highest per-capita food waste, at about 260kg annually.

Pakistan Visit: President Mohamed Muizzu begins a three-day state visit tomorrow, the first by a Maldivian president in 11 years. Talks will cover trade, investment, defence and maritime security, with a business forum and several agreements expected. Financial Stability: India has rolled over a $316 million currency-swap facility, giving the Maldives more time to repay existing financing, not adding new funds. Finance Minister Hassan Zareer says upcoming debt payments are manageable. Health Cooperation: A Maldivian delegation is in China for a five-day study visit focused on hospitals, medical training and pharmaceutical manufacturing. Malé is also hosting a WHO regional pandemic-preparedness meeting with 42 international delegates. Online Safety: Police say reported cybercrime cases doubled in the first half of this year; 68% involved social media. Food Waste: The Maldives ranks highest worldwide for per-capita food waste, at about 260 kilograms per person annually, according to figures cited from UNEP.

Diplomacy: President Mohamed Muizzu begins a three-day state visit to Pakistan on October 20, the first by a Maldivian president in 11 years. Talks are expected to cover trade, investment, defence and maritime security, with a business forum and agreements also planned. Public Finances: Finance Minister Hassan Zareer says upcoming debt payments are manageable, citing state revenue and regular contributions to the Sovereign Development Fund. India has also agreed to roll over a USD 320 million currency-swap facility, easing near-term pressure. Financial Enforcement: The Maldives Monetary Authority fined MS Finance Exchange MVR 500,000 and suspended its licence over illegal foreign-currency trading. Digital Safety: Police Commissioner Ahmed Mohamed says reported cybercrime cases doubled in the first half of 2026 compared with the same period last year; 68% involved social media. Health Security: The Maldives is hosting a WHO regional meeting on pandemic preparedness, bringing together 42 international delegates and health specialists. Rasmale’ Project: The government says leases under the Eagle Hills development will not renew automatically and foreign parties will not own land.

Foreign Relations: President Mohamed Muizzu will make Pakistan’s first Maldivian presidential state visit in 11 years on October 20–22, with talks spanning trade, investment, defence and maritime security. A business forum and several agreements are expected as the countries mark 60 years of diplomatic ties. Economic Stability: India has approved a three-month rollover of the Maldives’ INR 30 billion currency-swap facility, giving the country further financial support. Rasmale’ Project: The government says leases under the Eagle Hills development will not renew automatically and foreign parties will not own land, while the main agreement remains subject to Maldivian law. Cybersecurity: Police Commissioner Ahmed Mohamed says reported cybercrime cases doubled in the first half of the year; 68 percent involved social media. Health Security: A WHO regional meeting on pandemic preparedness has opened in Malé, bringing together 42 international delegates and health specialists to review outbreak readiness. Food Security: Fisheries Minister Ahmed Shiyam says more than 90 percent of food is imported and reducing reliance on overseas supplies is a national priority.

Financial Stability: India has approved the Maldives’ request to roll over its INR 30 billion currency-swap facility from October 23, extending support for liquidity and economic stability. Diplomacy: President Mohamed Muizzu is due in Pakistan from October 20 to 22, the first Maldivian head-of-state visit there in over a decade; the two sides are expected to discuss trade, tourism and direct flights. Economy: The Maldives’ economy grew 2.4% year-on-year in August to MVR 9.64 billion, led by financial services, while hospitality remained the biggest contributor. Infrastructure: MWSC has begun feasibility studies for a proposed underwater desalination system near Giraavaru lagoon, with technical and commercial viability still to be assessed. Telecoms: Former president Mohamed Nasheed has called a government buy-back of Dhiraagu shares wasteful, arguing its private-sector-led ownership limits political influence. Island Tourism: Fuvahmulah won MIB’s inaugural Champion Island award and MVR 500,000 for a community-benefit project supporting guesthouse tourism.

Pakistan Visit: Officials in Islamabad reviewed preparations for President Mohamed Muizzu’s visit, expected to focus on trade, investment, health, education, climate, tourism and aviation. Financial Stability: India approved a rollover of the Maldives’ INR 30 billion currency swap facility from October 23, extending support for liquidity and economic resilience. Economic Outlook: The economy grew 2.4% year-on-year in August to MVR 9.64 billion, led by financial services, retail and real estate; tourism remained the largest sector. Food Security: President Muizzu called for more investment in local food production and sustainable systems, saying they are vital to national resilience. Tourism: The Maldives is targeting 2.5 million visitors as it plans further airport expansion and resort development.

Financial Stability: India approved a rollover of the Maldives’ INR 30 billion currency-swap facility, with the first rollover due to take effect on October 23. Malé thanked New Delhi, saying the support would help bolster financial stability. Economic Growth: The economy grew 2.4% year-on-year in August to MVR 9.64 billion, led by financial services, retail and real estate; tourism and hospitality remained the biggest contributor. Tourism: The country is targeting 2.5 million visitors as it seeks to broaden air links and expand airport capacity amid disruption to Gulf aviation routes. Food Security: President Mohamed Muizzu called for more local food production and sustainable food systems, linking food security to national resilience. Heritage: Assessments are complete for the Maldives’ bid to list seven historic coral-stone mosques as UNESCO World Heritage sites; a decision is expected in 2027.

Economic Support: India approved a rollover of the Maldives’ INR 30 billion currency swap facility, providing continued financial support under terms intended to help maintain stability. Rasmale’ Dispute: Former president Abdulla Yameen says the government signed the Rasmale’ project agreement before drafting the legislation needed to support it, raising questions about compliance with existing law. Tourism: The government is targeting 2.5 million visitors as it works to widen air links and grow the sector amid disruption to Gulf aviation routes. Security: Two Maldivian pilots have been detained in the UAE over an alleged plot targeting a flydubai aircraft; the investigation is ongoing. Heritage: The Maldives has completed an international assessment of seven coral-stone mosques nominated for UNESCO World Heritage status, with a decision expected in 2027. Political Reform: The MDP has backed a constitutional overhaul that would split the executive into separate head-of-state and head-of-government roles. Food Security: President Mohamed Muizzu says boosting local farming can reduce import reliance and protect the country from price and supply shocks.

Heritage: The Maldives has completed international assessments of seven historic coral-stone mosques in its UNESCO World Heritage bid; a decision is expected in 2027. Politics: The MDP is proposing a major constitutional overhaul, including separating the head-of-state and head-of-government roles. President Muizzu is due to visit Pakistan on October 20, while the opposition is demanding disclosure of the terms of the Eagle Hills Rasmale’ deal and a public referendum. Security: Two Maldivian pilots have reportedly been detained in the UAE as an investigation examines an alleged plot to down a flydubai aircraft. Economy: Muizzu says boosting local food production is key to sovereignty and shielding the country from global price and supply shocks. Health and environment: A new report highlights growing concern over meth use and HIV risks. CROSSROADS Maldives’ 1.71-square-kilometre marine area has also received official conservation recognition.

Food Security: President Mohamed Muizzu says boosting sustainable local food production can shield the Maldives from global price and supply disruptions, while reducing import dependence. Rasmale’ Deal: The opposition MDP is demanding full disclosure of the Eagle Hills agreement for 500 hectares and a public referendum, citing unanswered questions over the $20 billion development. Foreign Investment: New rules require at least 25% Maldivian ownership in several sectors, including some construction, real estate, auditing and IT projects; some activities are reserved for locals. Public Finances: State spending reached MVR 35.98 billion by October 8, up 18.3% year-on-year, while tourism goods and services tax revenue fell 1.5% to MVR 8.09 billion. Regional Ties: Muizzu is due to visit Pakistan from October 20–22, with direct flights and health cooperation among the expected agreements. India’s High Commission says it will seek consular access and assist 25 detained fishermen after due procedure. Health: The HPA is surveying public knowledge of HIV; officials reported 22 new cases this year as of September 30. Growing meth use is also raising concern over addiction and health risks. Marine Conservation: CROSSROADS Maldives’ 1.71-square-kilometre marine area in Emboodhoo Lagoon has been recognised as the country’s largest OECM conservation site.

Sovereignty and Investment: The government says no Maldivian territory will be placed under foreign surveillance. New investment rules require at least 25% local ownership in several sectors and reserve some activities for Maldivians, as concerns grow over the proposed Rasmale’ mega-project. Economic Pressure: State spending rose 18% to MVR 35.98 billion by October 8, while tourism tax receipts fell 1.5%. The government has sought international assistance amid high fuel costs and weaker tourism revenue; India has reportedly agreed to extend a USD 320 million currency swap for three months. Foreign Relations: President Mohamed Muizzu is due to visit Pakistan on October 20–22, the first presidential visit in more than a decade, with cooperation agreements expected. Maritime Enforcement: Authorities seized three foreign fishing vessels in Maldivian waters. Families of 25 detained Indian fishermen are seeking their release, saying strong winds and currents pushed the boats across the boundary. Public Health: The Health Protection Agency has launched a poll to gauge HIV awareness and identify gaps in public knowledge.

Sovereignty: The government says it will not hand foreign parties control of Maldivian territory or maritime surveillance, amid reports that unauthorised vessels anchored near Malé. Investment Rules: New rules require at least 25% Maldivian ownership in some foreign-backed construction, real estate, audit and IT projects; some activities are reserved for locals. Economic Pressure: State spending rose 18.3% to MVR 35.98 billion by October 8, while tourism tax revenue fell 1.5%. The government has sought donor support as fuel costs climb and tourism revenue weakens. Flydubai Probe: Two Maldivian pilots were reportedly detained in the UAE over an alleged plot involving a flight’s Omani co-pilot. Neither government has publicly detailed the allegations. India Support: India has reportedly agreed to extend the Maldives’ USD 320 million currency swap facility for three months, though no official confirmation has been issued. Rasmale’ Concerns: Religious scholars have warned that the proposed mega-project could affect sovereignty, culture and economic autonomy.

Aviation Probe: Two Maldivian flydubai pilots are reportedly in UAE custody as investigators widen a probe into an alleged attempt to hijack a Dubai–Tel Aviv flight. Neither UAE nor Maldivian authorities has publicly detailed the allegations. Economic Pressure: The government has sought international financial support as fuel costs rise and tourism revenue weakens; Finance Minister Hassan Zareer says growth could slow to 1% this year and the budget deficit reach 9%. Rasmale’ Debate: Religious scholars have raised concerns about the proposed $20 billion waterfront project’s implications for sovereignty, culture and economic independence. The Supreme Court registrar has rejected a petition seeking to block the project, citing jurisdiction. Foreign Currency: The MMA has limited the $1,000 medical-travel allowance to six destinations, citing a sharp rise in dollars issued for treatment abroad. Police also arrested three Bangladeshi nationals suspected of illegal currency trading. Maritime Security: The MNDF seized three foreign fishing vessels suspected of operating illegally in Maldivian waters. Fisheries: MIFCO has raised its top skipjack purchase price to MVR 22.75 per kilogram.