AGP Executive Report
Last update: 7 hours agoTourism Policy & FX: Maldives tourism officials met industry leaders to address 2027 arrival targets and concerns over new taxation and foreign-currency conversion rules for resorts, including a requirement to route 40% of foreign-currency revenue through domestic banks. TGST Postponement: The government appears to have delayed the 17% Tourism Goods and Services Tax on foreign travel agencies and booking platforms until April 1, 2027 after UK trade lobbying. Digital Payments: Ooredoo Fintech says 5,000+ customers have linked PayPal with mFaisaa accounts, enabling PayPal funds to land in an mFaisaa USD pocket and transfers back to PayPal. Energy Cooperation: Maldives and UAE discussed energy projects including grid modernization, battery storage, water production across 40 islands, and expanding STELCO’s role. Anti-Corruption & Asset Recovery: A bill for automatic forfeiture of criminal assets was submitted to Parliament, while the ACC moved to seek money-laundering charges tied to the MMPRC scandal. Business & Hospitality: S Hotels & Resorts expanded Alexander Traeger’s Maldives leadership remit across the CROSSROADS Maldives portfolio. Safety & Public Trust: Police warned of scams impersonating the Maldives Police Service, and a fatal fall from Aman towers in Hulhumale’ Phase II renewed calls for building safety measures.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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