News In Brief
May 20

Muli airport, foreign exchange and nature parks

News in brief from Tuesday, May 20.

President Muizzu inaugurated the Meemu Muli airport, a project carried out across multiple administrations to reclaim land and develop a 1,200-metre runway. According to the infrastructure minister, the airport cost MVR 540 million (US$ 35 million), more than MVR 100,000 per person in Meemu atoll. During the trip, the president also inaugurated construction of a regional hospital and a causeway to connect Muli and Naalafushi.   

The amount of foreign currency that banks must sell to the Maldives Monetary Authority rose from 60 percent to 90 percent of tourism sector conversation. The new foreign currency law made it mandatory for tourism businesses to exchange a portion of earnings with local banks. The central bank defended the move as necessary "to facilitate a more robust system for banks to provide businesses with the foreign currency they need."

An MoU was signed to develop nature parks in Haa Dhaal Keylakunu and Shaviyani Farokulhu, two uninhabited northern islands renowned for mangrove forests.

A delegation arrived from Liverpool football club for discussions to "deepen cooperation, identify innovative tourism promotion strategies, and support the successful rollout of joint initiatives."

A wide-body aircraft landed at the Maafaru airport for the first time as part of a certification process.

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