AGP Executive Report
Last update: 2 hours agoTourism Finance: President Mohamed Muizzu says new foreign-exchange rules requiring tourism businesses and other sectors to convert currency through local banks will help ease the dollar shortage and strengthen reserves. Meanwhile, the Bank of Maldives has been returning some payments for Russian tourists’ hotel bookings since October 18, creating extra costs and risking check-in problems; Russia accounted for 14.3% of arrivals through October. Tourism Investment: The government has formed a state-owned company to develop resorts and other tourism assets, with plans to build 10 resorts within three years. Property Rules: A new Real Estate Business Bill would create a regulator, oversee developers and transactions, and strengthen protections for property buyers. Public Revenue: Airport departure taxes and development fees generated MVR 3.32 billion through October, up 6.8% year on year. Hospitality: Manhattan Grand has opened in Hulhumalé with 162 rooms and facilities for meetings and events.
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