The Maldives welcomed the new year with vibrant celebrations, including fireworks and a drone show organised by the Maldives Marketing and Public Relations Corporation (MMPRC). Alongside these festivities, the Maldives also marked significant accomplishments across different sectors.
Political Arena
The most notable developments at the start of 2025 has been the extensive trips undertaken by President Dr Mohamed Muizzu. In just nine days, the President has already visited 10 islands this year, including Gulhi of Kaafu Atoll, and nine islands in Huvadhu Atoll.
During these visits, the President engaged with Island Councils and local residents, assuring them that the government would address their concerns and fulfil pledges made to them, placing a special emphasis on fulfilling pledges related to the fishing sector.
Economic Sector
With the commencement of the new year, the Maldives has also made notable strides in the economic sector. The new year kicked off with the Free-Trade Agreement (FTA) between Maldives and China coming into effect. This agreement exempts duty on fish exported from the Maldives and imports into the country. This is the first such agreement implemented in the Maldives, and seen as a historic step. The government believes the FTA will be greatly beneficial for the Maldivian economy.
In another key development, the national flag carrier, Maldivian, added its first wide-body aircraft to its fleet last week. The aircraft, with has a capacity of 264 passengers, will be utilised for flights to three destinations in China. The addition is an important step taken towards diversifying the economy.
Last year ended with the Maldives seeing the highest number of cargo imports to date, according to the Maldives Ports Limited (MPL). According to statistics, 66,387 containers of cargo were imported into the Maldives, in addition to 131,262 freight tonnes of general cargo. General cargo refers to cargo that may or may not be shipped in containers.
The Foreign Exchange Act also came into effect with the new year. The aim of this Act is to establish a framework to determine which transactions can be conduced using foreign currency in the Maldives, and establishing rules relating to the import, use, possession and deposit of foreign currency.
Heavy Rains Cause Damage
The year began with the northeastern monsoon bringing heavy rains to Male’, prompting the National Disaster Management Authority (NDMA) to carry out its largest relief operation to date. The rain caused significant damage across Maldives.
Following damage assessments, NDMA issued a statement noting that of the 145 households in Male’ that reported being affected by the rain, 115 households were assessed. Assessments could not be conducted on the remaining homes due to unwillingness of homeowners and various other reasons, NDMA said.
Meanwhile, eight islands in the atolls reported damages due to the rain. Assessment reports have been submitted for 73 households across four island so far, NDMA said.