The government has decided to divest its stake in joint venture companies formed to develop resorts, Tourism Minister Dr Abdulla Mausoom told state media.
Earlier this month, the finance ministry sought parties to conduct share valuations for Bodu Mohora Investment, Hurasfaru Holdings and Naainfaru Holdings. Based on an assessment of their business plans and an industry analysis, the independent party would be required to to submit a draft valuation report of the fair market value of the joint ventures along with the value of shares held by the government.
Last year, the tourism law was amended to allow the private partner to buy the government’s shares. The cabinet’s economic council decided to sell the government’s stake in all such joint venture companies, which had been leased islands for resort development without a bidding process, Dr Mausoom explained.
The Maldives Ports Limited invited expressions of interest for the construction of a deep-sea port on the industrial island of Thilafushi near the capital Malé.
“The project aims to establish a modern, efficient, and sustainable port that can accommodate large bulk cargo vessels and container-cargo carrying vessels,” according to MPL. “Upon completion of its construction, the newly constructed port will temporarily serve all cargo operations currently carried out at Malé Commercial Harbour, excluding general/conventional cargo.”
Along with land reclamation, the project involves the construction or commissioning of “breakwaters, quay walls, apron, roadways, container yard, entry/exit gates, and terminal buildings.”
A bridge to connect Malé with Thilafushi is under construction.
The economic development ministry’s Job Centre announced financial support of up to MVR60,000 (US$3,891) for 500 self-employed individuals whose livelihoods were affected by the Covid-19 pandemic. Freelance and home-based workers are eligible to apply before the deadline of 31 May. As a condition for securing the grant, chosen individuals would have to complete a training programme.
The types of work covered include handicraft; beauty and makeup; photography and videography; tailors and garment production; information and communication technology; creative arts and music; and sports and fitness.
The funds were offered in the third round of a Covid-19 income support programme carried out with the World Bank.
The national carrier Maldivian sought the lease of five new or used ATR42-600 aircraft. The airline is planning to phase out its two-decades-old De Havilland Dash 8 aircraft by the end of 2024 and to renew the fleet used for domestic flights with ATR aircraft. Maldivian started using two ATR72-600s and one ATR42-600 earlier this year. The new planes are more fuel-efficient and less costly to maintain, according to the airline.
Maldivian’s fleet also includes DHC-6-300 Twin Otters and one Airbus A320-200, which is used for international flights to India and Bangladesh.
