AGP Executive Report

Marine Science & Security (Sri Lanka): A new push argues Sri Lanka can’t protect or manage its ocean without stronger marine science and long-term monitoring—linking data gaps to national security, fisheries, shipping, tourism and the blue economy. Sustainable Tourism (Maldives): World Environment Day coverage highlights how the Maldives has turned sustainability into a core tourism value—reef restoration, renewables and conservation—while asking what comes next for deeper leadership. Wellness & Community (Maldives): Global Wellness Day 2026 in the Maldives is set for June 13 with #JoyMagenta activities focused on movement, gratitude, connection and creativity. Finance & Inclusion (Maldives): The Maldives Monetary Authority extended the Maldives Financial Expo registration deadline to June 6 (July 2–4 at Hulhumalé Central Park) and launched Financial Sector Awards across areas including digital finance, SMEs and green finance. Transport & Mobility (Maldives): MTCC rolled out “Male Taxi,” a mobile app for booking, scheduling, digital payments, driver messaging and emergency tools in Greater Malé. Trade Standards (Region): SARSO’s 11th governing board meeting in Dhaka finalised a 2026 action plan to remove technical barriers and harmonise quality standards across South Asia, with Maldives among participants. Eco-Maritime Deal (Maldives): Navier and Dubai’s JIH Global Investment plan to bring 100 zero-emissions hydrofoil vessels to the Maldives under a “sustainable maritime corridor” concept. Tourism Business Signals (Maldives): Coverage points to a new Maldives resort boom driven by luxury brands and private residences, alongside airport expansion and record arrivals.

Maldives Financial Expo: The Maldives Monetary Authority (MMA) pushed the Maldives Financial Expo registration deadline from 1 June to 6 June, with the expo set for 2–4 July at Hulhumalé Central Park; the event will also feature the Maldives Financial Sector Awards, with applications open until 28 June across seven priority areas including financial inclusion, digital finance, SME services and green finance. Transport & Mobility: MTCC launched “Male Taxi,” a mobile app for Greater Malé taxi bookings, scheduling and digital payments, adding driver communication and passenger emergency tools. Tourism & Business Culture: A new exhibition at the National Art Gallery in Malé traces five decades of Maldivian resort architecture, highlighting how the “one island, one resort” model evolved into today’s branded, design-led hospitality. Regional Trade Standards: SARSO’s 11th Governing Board meeting in Dhaka concluded with a 2026 action plan focused on removing technical barriers to trade and harmonising quality standards, with Maldives among participating members. Finance Leadership: DFCC Bank appointed Shamindra Marcelline as an Executive Director, bringing 27+ years of banking experience including senior leadership in the Maldives. Global Context for Maldives: The Maldives was elected Vice-Chair of the UN General Assembly’s Economic and Financial Committee for the 81st session (Sept 2026–Sept 2027), reflecting continued UN engagement on development financing and SIDS priorities. Diplomacy: The Maldives condemned the storming of Al-Aqsa Mosque by Israeli settlers, calling it a violation of international law and urging accountability.

Digital Services & Transport: MTCC launched “Male Taxi,” a Greater Malé cab-booking app with scheduling, digital payments, driver chat, and emergency tools. Financial Sector: The Maldives Monetary Authority extended the Maldives Financial Expo registration deadline to 6 June (from 1 June), with the expo set for 2–4 July at Hulhumalé Central Park; the MMA also opened Maldives Financial Sector Awards applications until 28 June, spanning financial inclusion, literacy, digital finance, SME services and green finance. Tourism & Investment Pipeline: A new wave of luxury brands is pushing into the Maldives, with reports pointing to record arrivals and private residences driving a resort boom. Sustainable Maritime Deal: Navier and JIH Global Investment plan to deliver 100 zero-emissions hydrofoil boats to the Maldives, starting with five in 2026, in a “maritime corridor” linking airports, resorts and islands. Governance & Labour: Malé Mayor Adam Azim defended the use of expatriate workers in city markets, saying local staffing shortages leave businesses no practical alternative. International Role: The Maldives was elected Vice-Chair of the UN General Assembly’s Economic and Financial Committee for the 81st session. Diplomacy: Maldives Foreign Ministry strongly condemned Israeli settlers’ storming of Al-Aqsa Mosque and urged accountability and protection of holy sites.

Child Online Safety: President Mohamed Muizzu says the Maldives will restrict social media access for children under 16, targeting specific “risky” apps and aiming to roll it out within a year after consultations, with changes needed to cyber safety laws. UN Leadership: The Maldives was elected unanimously Vice-Chair of the UN General Assembly’s Economic and Financial Committee for the 81st session, with Hussain Azhaan Mohamed representing the country in New York. Local Labour Debate: Malé Mayor Adam Azim defended the use of expatriate workers in city markets, saying staffing shortages make foreign labour necessary and that quotas are handled through government authorities. Tourism & Events: Raaraa Pro 2026, the Maldives’ top kiteboarding competition, kicked off in Dhiffushi on 1 June, expanding formats and positioning the event as a driver for adventure tourism. Insurance & Risk Services: Brokerslink added three international affiliates—one in the Maldives—boosting its retail, specialist and corporate insurance reach across new markets. Regional Cooperation: Sri Lanka and the Maldives move to deepen ties, including approval of a mutual legal assistance framework in criminal matters.

Maldives Digital Safety: President Mohamed Muizzu says the Maldives will ban children under 16 from accessing certain social media platforms, targeting apps seen as risky for cyberbullying and online grooming; the government will consult platforms and draft regulatory changes, aiming to roll out within a year after public consultations. Tourism & Events: Raaraa Pro 2026, the Maldives’ top kiteboarding competition, kicked off in Dhiffushi on 1 June and runs to 6 June, expanding beyond slalom to include freestyle and positioning the island for adventure tourism. Business & Branding: Maldivian artist and entrepreneur Raya Mansoor has been named to Forbes 30 Under 30 Asia 2026 in the arts category, after growing her Oevaali Art Shop brand from Maldives to a Singapore storefront. Insurance & Risk Services: Brokerslink adds three new affiliates—Somit (Guatemala), RAS (El Salvador), and Trust Edge Risk Solutions (Maldives)—to broaden its international insurance network. Connectivity Recognition: Dhiraagu wins “Telco of the Year–Small Markets” at the Twimbit Telecom Awards 2026, citing network excellence and nationwide mobile and fibre coverage across inhabited islands. Energy Tech (Maldives link): AirPlus Renewables plans to deploy its XEVA “EDGEWIND Tech” turbine in multiple countries including the Maldives, aiming for decentralised power generation closer to where electricity is used.

Child Safety & Regulation: President Mohamed Muizzu says the Maldives will ban children under 16 from accessing certain social media platforms, targeting cyberbullying and online grooming; the government will study models like Australia and aims to finalize the framework and roll it out within a year after consultations. Banking & FX Controls: Bank of Maldives (BML) is expected to ease foreign-transaction limits by end of June as dollar liquidity improves; current restrictions mainly affect MVR card use for international e-commerce, while dollar-account cards and students abroad are said to be protected via existing arrangements. Tourism & Events: Raaraa Pro 2026, the Maldives’ top kiteboarding competition, kicked off 1 June in Dhiffushi with six days of racing and freestyle events, backed by Visit Maldives Corporation to broaden adventure tourism. Insurance & Trade Links: Brokerslink expands internationally with three new affiliates, including Trust Edge Risk Solutions in the Maldives, strengthening local expertise in hospitality, marine and construction risks. Energy Shock Watch: UNCTAD warns Strait of Hormuz disruptions could lift oil import bills for vulnerable economies by over $20bn annually, a reminder of how global energy shocks can feed into costs for small island states.

Social Policy: Maldives President Mohamed Muizzu says the government will ban children under 16 from accessing certain social media platforms, with a regulatory framework to be finalised after consultations and implementation targeted within 12 months, aiming to curb cyberbullying, grooming and harmful content while keeping online learning intact. Banking & FX: Bank of Maldives (BML) is expected to ease foreign transaction limits by end of June, after restrictions were introduced due to operational challenges and reduced dollar availability affecting some international e-commerce and online retail card transactions. Insurance & Trade Links: Brokerslink expands its international broking network with three new affiliates—two in Central America (Guatemala, El Salvador) and one in the Maldives—boosting local expertise across retail, specialist and corporate insurance. Telecom Recognition: Dhiraagu is named “Telco of the Year–Small Markets” at the Twimbit Telecom Awards 2026, citing network excellence and progress toward nationwide mobile and fibre coverage. Tourism Assets: Hayleys PLC agrees to sell Maldives resort assets linked to NH Maldives Kuda Rah for $17.25m (about MVR 266m), with completion expected in the first months after the reporting date. Tourism Pricing Data: LuxAtolls launches a Maldives Pricing Index tracking transfer costs, mealplan premiums and deal activity across 129 resorts, highlighting wide transfer-cost gaps and large all-inclusive upgrade premiums.

Digital Safety Policy: President Dr. Mohamed Muizzu says the Maldives will ban children under 16 from accessing certain social media platforms to curb cyberbullying, online grooming and other digital risks, with consultations and legal amendments planned and a target rollout within a year. Banking & FX: Bank of Maldives (BML) is expected to ease foreign-transaction limits by end of June after operational challenges and a dollar shortage tightened rules, affecting some MVR card use on international e-commerce while dollar-account cards remain unrestricted. Tourism Deals & Pricing: LuxAtolls launched a Maldives Pricing Index tracking transfer costs, mealplan premiums and resort deal activity across 129 properties, showing transfer costs vary widely and all-inclusive mealplan supplements can be several times higher than half-board. Resort Asset Moves: Hayleys PLC agreed to sell Maldives resort assets linked to NH Maldives Kuda Rah for $17.25m, with impairment losses recorded ahead of completion. Tech for Tourism: Visit Maldives endorsed TechEng 2026 (6–8 Oct) to spotlight engineering, energy and water, digital infrastructure and smart, sustainable solutions for hospitality. Wellness Push: Dusit Hotels’ Well-Fest 2026 runs through June, promoting wellness experiences from sunrise yoga to sleep and mindfulness activities. Energy Innovation: AirPlus Renewables plans to introduce its EDGEWIND Tech XEVA turbine, with deployments including the Maldives, aimed at generating power closer to where it’s used.

Foreign Exchange Relief: President Dr. Mohamed Muizzu says Bank of Maldives (BML) is expected to ease foreign transaction limits by end of June, after the bank cited a dollar shortage and tighter FX availability affecting international e-commerce and online retail card use. Resort Deal: Hayleys PLC has agreed to sell Maldives resort assets tied to NH Maldives Kuda Rah for USD 17.25m (about MVR 266m), with completion expected in the first months after the reporting date. Tourism Finance & Pricing: LuxAtolls launched a Maldives Pricing Index tracking transfer costs, mealplan premiums and deals across 129 resorts, showing transfer costs vary 23-fold and all-inclusive mealplan supplements can be far higher than half-board. Banking Tech: Commercial Bank of Ceylon introduced 3-D Secure (3DS 2.x) authentication for UnionPay e-commerce transactions, aiming to strengthen secure online payments in South Asia. Wellness Push: Dusit Hotels and Resorts is rolling out Well-Fest 2026 across June, betting on growing demand for meaningful wellness travel. B2B Tourism Tech: Visit Maldives endorsed TechEng 2026 (6–8 Oct) to spotlight energy, water, digital infrastructure and smart, sustainable engineering for hospitality. Travel Market Watch: RateGain released an APMEA Direct Booking Friction Report 2026, arguing hotels lose direct bookings mainly due to friction in their own digital booking journeys. Culture & Community: Chinese Ambassador Kong Xianhua joined Beyya celebrations in Kinbidhoo, praising local creativity and community spirit. Tobacco-Free Drive: President Muizzu marked World No Tobacco Day, highlighting Maldives’ tobacco-free generation law and warning against flavoured nicotine pouches and AI-driven marketing.

Digital Payments: Commercial Bank of Ceylon says it has rolled out 3-D Secure 2.x authentication for UnionPay e-commerce transactions, aiming to boost security and fraud protection for cardholders across South Asia. Tourism Pricing Transparency: LuxAtolls launched the LuxAtolls Maldives Pricing Index, an open-access tracker covering transfer costs, mealplan premiums and resort deal trends across 129 properties, with transfer costs ranging from US$85 to US$1,950 per adult depending on route and mode. Travel Industry Tech: RateGain released its Direct Booking Friction Report 2026, arguing hotels in APMEA are losing direct bookings mainly due to friction in visibility, pricing and booking experience rather than demand. Maldives Tourism Momentum: Maldives recorded 122,548 tourist arrivals in the latest period, up 2.6% year-on-year, as airlines gradually restore services after Middle East-linked disruptions. Wellness & Hospitality: Mandara Spa strengthened its wellness offering via a partnership with ELEMIS, while Dusit Hotels promoted Well-Fest 2026 across June with sunrise yoga, mindful activities and wellness dining. Business Events: Visit Maldives endorsed TechEng 2026, a B2B exhibition on technology and engineering for hospitality set for 6–8 October in Hulhumalé. Public Health Policy: President Muizzu renewed calls for a tobacco-free Maldives, highlighting the tobacco-free generation law and warning against flavoured nicotine pouches and AI-driven marketing.

Tobacco-Free Push: President Dr. Mohamed Muizzu marked World No Tobacco Day by urging collective action to protect future generations from nicotine addiction, pointing to Maldives’ e-cigarette ban and its Tobacco-Free Generation policy, while warning about flavoured nicotine pouches and AI-driven marketing. Tourism Recovery Watch: Maldives tourism rebounded this month with 122,548 arrivals, up 2.6% year-on-year, as airlines gradually restored services after Middle East-linked aviation disruptions. Tourism Tech & Trade: Visit Maldives endorsed TechEng 2026 (6–8 Oct, Hulhumalé) to strengthen the hospitality sector’s engineering and smart infrastructure, including energy, water, digital systems and sustainability. Business & Finance: Government dividend income from state-owned enterprises fell sharply, with SOE profit collections down 36% year-on-year, leaving only about 30% of the 2026 target achieved so far. Banking Innovation: Commercial Bank of Ceylon enabled PayPal-linked withdrawals via ComBank Digital, letting eligible freelancers and exporters move foreign digital earnings into local accounts faster. Tourism Marketing: Dhiraagu and Vahmaafushi launched a zipline giveaway for Maldives’ first adventure, with discounts for Dhiraagu Elite Club members. Legal Cooperation: Sri Lanka–Maldives mutual legal assistance in criminal matters regulation was approved, setting a framework for cooperation including terrorism-related offences and related funds. Regional Connectivity: China signalled deeper trade ties with South Asia via supply-chain cooperation and new sectors like e-commerce and biomedicine, noting it is now a top trading partner for Maldives.

SOE Dividends Dip: Maldives government dividend income from state-owned enterprises fell 36% year-on-year to about USD 10.38m by 14 May, leaving only ~30% of the 2026 SOE profit target achieved so far, with Dhiraagu and Bank of Maldives expected to be the biggest contributors. Tourism Rebound: Tourist arrivals climbed to 122,548 this month, up 2.6% from 119,468 a year earlier, as airlines gradually restore services after Middle East-linked aviation disruptions. Tourism Safety Spotlight: A surge in marine-related deaths and injuries is again raising alarms, with recent reporting highlighting fatalities tied to diving and snorkelling and renewed calls for stronger safety measures. Legal Cooperation: Sri Lanka’s justice committee approved the regulation for a Sri Lanka–Maldives mutual legal assistance agreement covering criminal investigations and terrorism-finance related asset tracing, freezing and confiscation. Digital Payments (Regional): Commercial Bank of Ceylon enabled PayPal-linked withdrawals via its ComBank Digital platform, aiming to help freelancers and exporters move foreign earnings into local accounts securely. China–South Asia Trade Push: China is urging deeper trade ties with South Asia, citing trade above USD 200bn in 2025 and faster growth in early 2026, with the Maldives named among key partners. Hospitality Tech Warning: RateGain’s APMEA report says hotels are losing direct bookings mainly due to friction in their own digital journeys—slow sites, poor search visibility and trust issues—rather than weak demand.

Tourism Bounce-Back: Maldives tourism is regaining momentum after Middle East-linked aviation disruptions, with 122,548 arrivals recorded for the current period—up 2.6% year-on-year (from 119,468). Airlines had cut or paused services, hitting access from key markets, but recent restorations are helping reconnect the destination. Trade & Expo Push: China is using the China–South Asia Expo (June 11–16, Kunming) to deepen business ties, with China–South Asia trade topping $200bn in 2025 and rising 15.8% in early 2026; officials say the expo will support sectors like textiles, jewellery and gemstones, and expand beyond infrastructure into e-commerce and biomedicine. Banking Digitalisation (Sri Lanka): Commercial Bank of Ceylon has enabled PayPal-linked withdrawals via ComBank Digital, letting eligible freelancers and exporters move PayPal earnings into local accounts digitally. Hospitality Tech Watch: RateGain’s APMEA Direct Booking Friction Report 2026 warns hotels are losing direct bookings due to website friction—visibility gaps, slower mobile load times, extra clicks, and trust issues around taxes/fees. Legal Cooperation (Sri Lanka–Maldives): Sri Lanka’s justice committee approved regulations for the Maldives–Sri Lanka mutual legal assistance agreement in criminal matters, covering cooperation on terrorism-related offences and tracing/freeze/forfeit/confiscation of illicit funds. Hospitality Leadership: IHCL appointed Vikas Kumar as Cluster General Manager for Taj Exotica and Taj Coral Reef Maldives.

Tourism rebound: Maldives recorded 122,548 tourist arrivals this month, up 2.6% year-on-year from 119,468, as airlines gradually restore services after Middle East-linked aviation disruptions. Legal cooperation: Sri Lanka’s Justice Committee approved the regulation for the Sri Lanka–Maldives mutual legal assistance agreement, enabling cross-border cooperation on criminal investigations, terrorism-related offences, and tracing or freezing proceeds of crime. Travel tech & bookings: RateGain’s APMEA Direct Booking Friction Report 2026 says hotels are losing direct bookings mainly due to friction in their own digital journeys—visibility gaps, slow mobile load times, extra booking clicks, and trust issues around taxes/fees. Hospitality expansion: IHCL appointed Vikas Kumar as Cluster General Manager for Taj Exotica and Taj Coral Reef Maldives, adding fresh leadership across two resorts. Wellness demand: Dusit Hotels and Resorts is expanding Well-Fest 2026, a month-long wellness programme running through June, as global wellness tourism continues to grow. Trade & connectivity push: Visit Maldives attended ITB China 2026 to strengthen China’s luxury travel market presence with B2B meetings and updated destination products.

Legal & Governance: Sri Lanka’s Justice Committee approved the regulation for the Sri Lanka–Maldives mutual legal assistance agreement in criminal matters, setting a framework for cooperation on investigations, prosecutions and handling funds tied to terrorism and proceeds of crime. Digital Finance: Commercial Bank of Ceylon enabled PayPal-linked withdrawals through its ComBank Digital platform, letting eligible freelancers and exporters move PayPal earnings into local accounts digitally. Tourism Tech: RateGain warned that AI-driven search may add friction and push hotels out of direct booking journeys, citing issues like poor visibility in unbranded searches and slow mobile load times. Maldives Travel Trade: Visit Maldives took part in ITB China 2026, targeting China’s luxury outbound market with B2B meetings and tailored product updates. Hospitality Skills: Four Seasons marked 25 years of its Maldives Hospitality Apprenticeship Programme, celebrating 1,058 graduates and welcoming the 2027 intake of 84 apprentices. Resort Dining: NH Collection Maldives Reethi Resort launched “Caravela,” an intimate, dinner-only culinary concept in Baa Atoll inspired by maritime exploration routes. Community & Culture: Dhiraagu’s “Eid Bondibaiy” drew strong public participation in Malé and Hulhumalé, with festive packs distributed via local partners.