In a significant policy move to strengthen the Maldives’ tourism industry, the Ministry of Tourism and Environment has officially gazetted the Tourism Trust Fund Regulation, a key initiative under President Dr Mohamed Muizzu’s administration aimed at ensuring sustainable development and greater Maldivian participation in the sector.
The regulation, published today, establishes the legal framework for a new fund designed to channel financial assistance to tourism development projects across the country. According to the Ministry, the fund will operate under transparent and accountable mechanisms, ensuring that financial support is easily accessible for industry stakeholders while maximizing long-term national benefits.
“The Tourism Trust Fund is a crucial step in maintaining the quality of our world-renowned tourism industry and unlocking its full potential for the benefit of the Maldivian people,” the Ministry said in a statement.
Key goals of the fund include:
- Supporting infrastructure and resource development across the tourism sector.
- Financing training and education programs to build a skilled local workforce.
- Expanding job opportunities for Maldivian youth in tourism-related fields.
- Enhancing Maldivian ownership and engagement in the tourism economy.
By offering targeted financial aid and skill-building initiatives, the fund is expected to empower local communities and reduce dependency on foreign labor, aligning with President Muizzu’s broader agenda of economic sovereignty and inclusive national growth.
Tourism remains the backbone of the Maldivian economy, contributing over two-thirds of the nation’s foreign currency earnings. With the launch of this fund, the government signals a renewed commitment to both preserving the industry’s excellence and ensuring that its benefits are shared more equitably among citizens.
