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Situation Maldives: Maldives Gears Up To Combat Covid-19

Maldivespreparesforcovid_140320

As a country renowned for tourism, the coronavirus outbreak directly affects the economy of Maldives. The island nation has been keeping a close eye on the situation across the world and taking all the necessary precautionary measures to combat an outbreak.

The first cases of coronavirus in the Maldives were reported on 7th March 2020 from Kuredu Island Resort. As of today, there are 10 confirmed cases in Maldives, including the two cases from Sandies Bathala resort, two cases from Kuramathi Island Resort & Spa, and one from Anantara Dhigu Resort. Currently, there are 18 individuals in quarantine facilities, 09 in isolation and 02 in the hospital.

We have been taking appropriate measures and preparations against the virus prior to it being diagnosed in the Maldives. Government is using the available resources while following WHO protocols regarding the crisis. To overcome this situation, we need everyone’s help and we advice people to avoid public gatherings. We appreciate the efforts of everyone who has been working tirelessly day and night to stop the virus from spreading in the Maldives.”

Ibrahim Solih, President of Maldives
cabinetmeeeeting_140320
Photo: Cabinet discussions with president Ibrahim Solih

From the initial flare-up of the virus, the Maldivian government has been quick in following the protocols. As of now, passengers travelling to Maldives from China, Iran, South Korea, Italy as well as Bangladesh has been banned until further notice. Moreover, entry of passengers from all provinces and regions of Spain, passengers from Bavaria, North Rhine-Westphalia and Baden-Wuttemberg in Germany, as well as from Ile-de-France and Grand Est in France has been restricted too. Reference: Civil Aviation Authority website.

While the country has effective medical emergency from 12th March 2020, Health Protection Agency (HPA) has also imposed a temporary ban on tourists checking into guesthouses and hotels for a period of 14 days within the greater Male’ area. The ban will be effective from 00:00 hours of 15th March 2020. Guests who are already checked into hotels and guesthouses in the area can stay until their checkout date. Reference: Health Protection Agency.

Airports have been taking all the necessary steps to ensure public health, by conducting thermal imaging and hand held temperature checks, thorough disinfection and cleaning up throughout the day.

Airlines in Maldives have stepped up to help create the best protective environment for their passengers, by providing hand sanitizer to all passengers and routine sanitization and disinfectants of aircrafts. Moreover, flight attendants are provided with safety masks and gloves, and the check-in staffs are instructed and trained to deal with any situation with regards to the virus.

Photo: Video by Trans Maldivian Airways


Resorts have been monitoring the in-house guests as well as the staff while keeping close communications with HPA to be informed of the situation. Medical personals are available on standby for any emergencies on the islands.

In order to prevent an outbreak, authorities have taken advantage of the geographical isolation and created quarantine facilities away from capital, Male’. Initially Farukolhufushi, and then Villivaru which was completed just 10 days as the second isolation facility.

While speaking to media, Minister Of Tourism, Ali Waheed highlighted, that Villivaru facility will be extended to 100 beds facility and preparation of another facility in A.A Velidhoo, which was previously operated as a tourist resort.

With HPA informing the community of the situation on social media platforms and via text messages.

It looks like with the right measures and awareness along a cautious and preventive lifestyle, Maldives can minimize the impact of the virus and overcome it.

There’s been so much attention on one word.
Let me give you some other words that matter much more, and that are much more actionable.
– Prevention.
– Preparedness.
– Public Health.
– Political Leadership.
And most of all, people.
we’re in this together, to do the right things with calm and protect the citizens of the world. It’s doable.
I thank you.”

Tedros Adhanom, Director General of WHO

Feature Photo by Ali Hashim Smith

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Maldives Sets Its Sights on Becoming a Global Financial Hub with $8.8 Billion MIFC Project

MIFC Maldives Financial Hub: Boosting Economic Growth by 2030

The Maldives, long known for its breathtaking resorts and vibrant tourism industry, is now setting its sights on a new frontier: becoming a global financial hub. The Maldives International Financial Centre (MIFC) is a monumental $8.8 billion joint venture between the Maldivian government and MBS Global Investments, a Dubai-based entity backed by Qatari royal interests. This project, scheduled for completion by 2030, promises to reshape the country’s economic landscape. It aims to diversify its dependence on tourism and establish the Maldives as a major player in global finance and innovation.

A Vision for Transformation

MIFC centers on a vision to transform the Maldives into a leading financial and technology hub in the Indian Ocean. The financial free zone, spanning 780,000 square meters in Hulhumalé, will attract fintech firms, international financial institutions, and digital entrepreneurs. Its business-friendly environment offers incentives such as zero corporate tax, tax-free inheritance, no residency requirements, and guaranteed foreign ownership, positioning MIFC as a unique proposition for global investors.

This digital-first financial ecosystem will host a range of services, including offshore private banking, green finance, digital assets, and multi-currency banking. The district will also feature world-class infrastructure: high-rise towers, branded residences, luxury hotels, retail space, and a state-of-the-art convention center that will host 35,000 visitors daily. This comprehensive vision will create 16,000 new jobs and position the Maldives as a competitive player in global markets by 2040.

A Strategic Investment for Growth

MIFC is not just about infrastructure; it aims to position the Maldives as an emerging leader in the world of finance. The government has outlined ambitious economic goals, including generating over $1 billion in annual revenue within the first five years of operation. This effort seeks to reduce the country’s economic vulnerability, which currently relies heavily on tourism while facing mounting external debt.

For the Maldives, this project goes beyond business; it represents a statement of intent to diversify its economy and reduce the risks associated with its single-industry focus. By tapping into global financial networks and attracting investors from around the world, MIFC can pave the way for sustainable economic growth and long-term prosperity.

Geopolitical and Economic Implications

MBS Global Investments, backed by Qatari royalty, lends the project significant geopolitical weight. Positioned strategically between two regional giants, India and China, the Maldives aims to capitalize on its political neutrality and become a financial bridge between East and West. The proximity to major shipping lanes and key economic corridors enhances the region’s strategic importance, making MIFC not only an economic endeavor but a geopolitical one as well.

By diversifying and strengthening its economy, the Maldives hopes to attract global capital that might otherwise flow to competing projects in the region. With its focus on sustainability and cutting-edge financial technologies, MIFC positions itself as a forward-looking alternative, appealing to investors seeking stability and long-term growth.

Criticism and Controversy

However, the project has faced criticism. Opposition voices have raised concerns about the transparency of the partnership with MBS Global Investments, particularly regarding the company’s lack of verifiable financial records and audit transparency. They have also questioned the credibility of its leadership and the potential risks associated with such a large-scale venture backed by a single foreign investor.

While these concerns are valid, the scale and ambition of the MIFC project remain undeniable. The Maldives government has committed to ensuring the project adheres to global standards of governance, and its focus remains on delivering a financial center that supports innovation and economic growth.

Looking Forward

MIFC represents an exciting leap into the future of finance and innovation for the Maldives. It is a bold attempt to build a resilient, diversified economy that can thrive long after the tourism boom. As the project progresses toward its 2030 completion, it will be interesting to see how it shapes the region’s financial landscape and whether it can overcome the challenges posed by its critics. For now, the Maldives is positioning itself as a key player in the rapidly evolving global financial scene, and MIFC could become the catalyst for a new era of growth and prosperity.

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