Tourism Minister Ibrahim Faisal has announced plans to provide low-interest loans to young individuals aspiring to enter the tourism sector. His remarks came during the ceremony held to celebrate the 10th anniversary of tourism in Fuvahmulah City.
Minister Faisal highlighted that financial constraints are the primary obstacle faced by young people interested in pursuing careers in tourism. To address this, he disclosed that the Tourism Ministry is collaborating with Maldivian banks to lower the high interest rates on loans. He also disclosed that, a meeting with the World Bank's International Finance Corporation (IFC) has been held to discuss the establishment of a tourism development fund with reduced interest rates, with the aim to launch the fund within the first or second quarter of next year.
The minister emphasized his commitment to the development of local tourism, announcing the creation of a dedicated department within the Ministry of Tourism to promote this sector. “I believe that the services provided by the Ministry will be accelerated, with a greater focus on local tourism, particularly in the islands. This will be a significant step toward our success,” he said.
Minister Faisal also expressed intentions to enhance the Maldives' reputation as a premier dive destination. He noted that the Diving Act, passed in 1991, will be evaluated and revised to meet contemporary needs, in collaboration with relevant authorities.
During the ceremony, the "Fuvahmulah Tourism Award 2024" was presented to local guesthouse owners, dive centre operators, and others who have made significant contributions to the tourism sector. The opening of the first guesthouse in the city, Vilaxa Retreat, on June 16, 2013, is considered the inception of tourism in Fuvahmulah.