| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• A business convention was held on 26-27 February with 150 stakeholders to identify challenges faced by businesses
• A Tax Reform Committee was established to identify solutions to barriers posed by the tax regime |
| Benefits |
• Resolve challeges faced by businesses
• Establish a business-friendly environement • Increase in the number of businesses, increased market competition pushing down prices, and increase in purchasing power |
| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• Permits for businesses to operate for 24 hrs issued from 1 January 2019
• Permit forms may be acquired online via the Ministry's Business Portal and from local councils |
| Benefits | • Establish a mechanism via which people can purchase basic goods and items of necessity, along with availability of cafe'/restaurant service at all hours. |
| Policy Document Link | www.gazette.gov.mv/gazette/download/4456 |
| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• This policy has been formulated
• Work is underway to introduce 13 more services to the online services provided by the Ministry to ease business operations |
| Benefits |
• Ease operation of business.
• Reduce Government red tape |
| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• The Bill has been drafted, sent for stakeholders' comment and public opinion sought through social media
• Currently working with the Attorney General's Office to submit the Bill to the Parliament |
| Benefits | • Ensure consumer protection |
| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• The Bill has been drafted, sent for stakeholders' comment and public opinion sought through social media
• Currently working with the Attorney General's Office to submit the Bill to the Parliament |
| Benefits | • Establish a buisness-friendly environment |
| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• SME Development Finance Corporation has been operational since its inception on 18th March 2019
• Through the SME Development Finance Corporation, 4 loans have begun to be issued at interest rates between 6% and 9% • Applications may be submitted via e-mail |
| Benefits |
• Increased economic participation of women, youth and people with disabilites
• Facilitating working from home. • Since 20% of the loan scheme is targeted towards women, youth and people with disabilities, it is expected to benefit two-thirds of the national population. |
| Website | sdfc.mv |
| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• The Export Import Act has been amended to scrap import duty levied on diesel
• Regulations facilitating scrapping duty on diesel for fishing boats have been incorporated in the ammended Export Import Act • The amendements are currently being gazetted |
| Benefits |
• Increase in the number of parties entering the fisheries sector
• Increase in the number of fisheries exports • Fisheries businesses will expand and will accrue increased profit |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks | • Permits for foreign vessels to fish in Maldivian waters will no longer be issue. Efforts underway to phase out employment of migrant workers on Maldivian line fishing vessels. |
| Benefits |
• Fishing in Maldivian waters by foreign fishing vessels will cease, enabling Maldivian fisherman to accrue the benefits of fishing in Maldivian waters
• Pave way to permit foreign fishing vessels to buy fish from fishermen in the Maldives, sans the need for a middle-man |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks |
• A fisherman's card was introduced on 20 February 2019 to all Maldivian fishermen, to access the "Mas Dhoni account"
• 201 fishermen cards has been issued to date |
| Benefits |
• Enable fishermen operating small and medium-sized fishing enterprises to easily access the banking system and its credit, loan and pension schemes.
• Readily get paid once fish is weighed, credit revenue to bank accounts on a regular basis, and undertake safe transactions sans the need for cash exchanges. |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks |
• "Kandufalhuge Nafaa", a loan scheme to establish a system to freeze seawater through the SME bank was introduced on 27 March 2019
• Under this scheme loans amounting to MVR 700,000 at an interest rate of 6% interest rate will be issued to those who meet the pre-requisites |
| Benefits |
• Fishermen will have access to sufficient amounts of ice and will no longer have to travel long distances to ice plants situated across the country.
• Reduce the expense on ice, store fish on boats for longer periods of time, enable fishing boats to be in open waters for longer periods of time, and value fish at decent prices. • Accrue greater benefits through further development to the fisheries sector |
| Website | sdfc.mv |
| Policy Document Link | sdfc.mv/Download/Kandufalhuge_Nafaa_Loan_Application_Form.pdf |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks |
• Ice plants that ceased operations have been identified and resumed services.
• An ice plant has been built in Alif Dhaal Mahibadhoo and has been in operation since January, 2019. • Work is underway to acquire an ice plant for Fuvamulah City; the ice plant will be imported and operationalised by the end of March, 2019 |
| Benefits |
• Fishermen will no longer have to travel long distances for ice and will have facilities to store fish during abudant fishing seasons
• Fish may be stored fresh until they are sold to fishing boats or factories enabling fish to be valued at decent prices. |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks |
• A 'management regime' to fish diamondback squid has been established along with a mechanism to issue tools to carry out this type of fishing. Interested parties are now able to sign up to this programme.
• Following close evaluation of applicants, 6 were selected and trained. • Tools to carry out diamond back squid fishing open for public viewing at the FAD Centre under Ministry of Fisheries, Agriculture and Marine Resources. |
| Benefits |
• With the aim of utilizing the marine biodiversity of the Maldives in an efficient and sustainable manner, an assessment was conducted to identify marine life that may be fished and a new area of fisheries has now been introduced.
• Maldivian fishermen will now be able to profit from lucrative markets for diamond back squid around the world, shaped by the high demand for these products. • Reduce over-dependence on deep sea fishing |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks | • The Fisheries Act has been revised and will be submitted to the Parliament |
| Benefits |
• Establishment of a sustainable mechanism that wields legal authority to protect fisheries resources and other marine life through the formulation, implementation and evaluation of sustainable mechanism.
• The promotion, implementation, monitoring and evaluation of aquaculture in Maldivian seas will be within the legal parameters |
| Status | Completed |
| Allocated Agency | Ministry Of Tourism |
| Tasks | • A plan for tourism promotion has been formulated, and the budget for it has been allocated. |
| Benefits |
• Increased promotion of the Maldives.
• Further expansion of the Maldivian economy due to increase in the number of tourist arrivals. |
| Status | Completed |
| Allocated Agency | Ministry Of Tourism |
| Tasks | • Guesthouse symposium was held on 29 January 2019. Guest house operators as well as representatives of atoll and island councils participated in the symposium. |
| Benefits |
• Based on the deliberations of the Guest House Symposium, expansion of guest house industry develops in a manner where revenue and benefits of the industry benefits islands and residents.
• Identification of challenges faced by parties involved in guest house operation, and formulation of government policies to provide solutions for pressing challenges. |
| Status | Completed |
| Allocated Agency | Ministry Of National Planning, Housing And Infrastructure |
| Tasks | • The legal framework to regulate leasing of land for agricultural actitivies and animal farming has been drafted. The framework is now being gazetted. |
| Benefits |
• To ensure that farming land is leased on an equitable basis in all islands.
• Economic growth due to the expansion of the agriculural sector and increased means of livelihood • Empowerment of small and medium-sized agricultural enterprises and increase in the range of Maldivian products available in overseas markets |
| Status | Completed |
| Allocated Agency | Ministry Of Economic Development |
| Tasks |
• Following discussions with the Fisheries Ministry, specific items used for agricultural activities have been identified, from which import duties will be removed.
• Regulations have been amended to remove import duties levied on agricultural tools • Work is underway to gazette the amendments. |
| Benefits |
• Increase in the number of Maldivian products available in local markets
• Increase in the number of parties enagegd in the agricultural business and increase in the overall public participation in the agricultural sector |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks | • "Dhanduveri Nafaa" loan scheme introduced on 18 March 2019 through the SME Bank. Interested parties may now apply to the loan scheme. |
| Benefits |
• Enhance productivity of agricultural activities in all areas of the agricultural sector. Facilitate new entrants into the sector to utilise sustainable methods and technologies with resepct to climate change impacts.
• Empower Maldivian farmers, and reduce dependence on imported agricultural products • Facilitate the building of a healthy society by growing local produce with known health benefits |
| Website | sdfc.mv |
| Status | Completed |
| Allocated Agency | Ministry Of Fisheries, Marine Resources And Agriculture |
| Tasks |
• Good Agricultural Practices (GAP) scheme strengthened
• Pesticide Law drafted and submitted to the Parliament |
| Benefits |
• Inculcate good practices in production of fresh fruits and vegetables in the Maldives.
• With the introduction of the GAP scheme, farms that meet GAP will have their products certified to demonstrate that it meets high standards of safety and quality. • Raise awareness on the safe use of pesticides |