Corporate Maldives | Issue 01 | 2019

September 2019 Coporatemaldives.com

Managing Director Akhmeem Abdul Razzaq Chief Executive Officer Dr. Hussain Sunny Umar Creative Director Nashaath Director Ibrahim Areef Director Mohamed Khoorsheed Manager Ahmed Nasir Assistant Manager Fathimath Maisaan Photography - DYNAMYST Moonis Design Direction - CREATIVE TUNA Zaya Ahmed Moothi Hamdhoon W. Asthu Shahindha Razan Fathmath Zuhura Ismail Marketing Ali Sageef Ibrahim Hawwa Sana Rashad Mariyam Inaya Ubedhullah Copyright © 2019 Orca Media Group.

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Reproduction in any manner is prohibited.

Opinions expressed in the articles are of the authors and do not necessarily reflect those of the editor or publishers. While the editors do their utmost to verify information published they do not accept responsibility for its absolute accuracy. Materials in this publication may not be reproduced, whether in part or in whole, without the consent of Orca Media Group.

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Foreword Welcome to the first issue of the Corporate Maldives Print Edition. Launched in 2016 by Orca Media Group, Corporate Maldives is the most read English-based business news portal which is dedicated entirely to the business community of Maldives.

The print edition of Corporate Maldives will cover special reports on different segments of business community along with expert insights & opinions. This issue has a collection of stories on banking, trade, aviation, health & technology which are all must-reads.

Our cover story is about how SDFC plans to revolutionise MSMEs financing in Maldives.

As MSMEs are key components of Maldivian economy, Ahmed Zeenad, SDFC Managing Director explains the initiatives by government to stimulate & boost the MSMEs in the country.

Corporate Maldive organises the “GOLD 100 GALA” annually which is the gathering of all leading business in Maldives & celebrate their contribution to the economy. We are launching the first “Business Expo” by Corporate Maldives which will be the premier business networking and trade show in Maldives. Business Expo will attract over 1,500 professionals and 150 business exhibitors, which is focused on targeted learning, networking, building valuable new business relationships & finding partners that help business owners to take their business to the next level.

Thank you.

Vid e o Ne ws N et wo r k of M al d i ves

mv p l. u s

Content

08

22

Economic Review

A Glance into HDC’s plans for Hulhumale’ - an Artifical Masterpiece

11

26

48

SME Development Finance Corporation (SDFC) to Revolutionize MSMEs Financing in Maldives

100 days pledges by goverment

HPA Says That Maldivians Spend MVR 1.6 Billion on Tobacco

14

28

49

Corporate Maldives Business Expo 2019

People

World Bank to Issue USD 20 Million to Increase Jobs in Maldives

18

40

50

The Maldives receives 1 million tourists in the first half of 2019

21 MACL to transform Velana international Airport With New Development Plan

Understanding New Gen Workforce Engagement

46 ADB to Introduce High-Tech Systems in Maldives to Enhance Trade

47 Ooredoo Maldives m-Faisaa Wins Most Innovative Mobile Payment Service at Telecom Asia Awards

Business News

56 Maldives Leading International Travel Trade Show, (TTM 2019) Concluded Successfully

Content

57

68

84

Team Maldives wins a Bronze Medal at China’s Cuisine World Championshi

Events 2019

Rise of Muslim Fashion Brands

58

70

86

How Eat.mv revolutionized Grocery Shopping in Maldives

Food

Ooredoo Maldives CSR Activities Report 2018

60

74

89

Maldives to Ban Single-Use Plastic by 2025

63 Maldives Association of Finance Industry

Product Review

80 Corporate Maldives “Gold 100” - Maldives’ Most Prestigious Business Awards

66

82

Opportunities in Agricultural development

Business News

7 Reasons why CIM is a must for all Marketing Professionals

08

Economic Review

Corporate Maldives | Issue 1

Economic Review Recent figures published by the National Bureau of Statistics indicated that the GDP of the Maldives had several fluctuations in the last few months.

The real GDP grew by 3.7% in Q4-2018, which is a fall from 5.4% in Q3-2018. The latest available indicators reflect a positive recovery in the economic activities in Q1-2019, which is mostly pointing to the remarkable growth in the Tourism industry during the peak season in the first quarter of 2019 such as from the increased arrivals from the main markets in the European region and the fast growing Indian market.

In addition, with the mega infrastructure projects of government and the rise in resort developments in both private and public sector has resulted in mixed developments in the construction sector in Q1-2014. The fish processing sector had also come to a moderation reflective from the latest data on the purchases and exports of fish purchases in Q1-2019, which had previously seen a growth in Q4-2018. The real GDP growth in Q4-2018 was contributed by sectors such as Tourism (0.6%), Real Estate (0.4%), Construction (0.3%) and Education (0.3%).

12.0

10.0

8.0

The latest available indicators reflect a positive recovery in the economic activities in Q1-2019, which is mostly pointing to the remarkable growth in the Tourism industry

6.0 4.0

2.0

0.0 -2.0

-4.0

2015

2016

2017

2018

The tourism sector has been the fastest growing sector in the Maldives in Q4-2018, registering an annual growth of 2.5%. The sector has also continued to grow strongly in Q1-2019 compared to Q4-2018.

The tourism receipts are estimated to be US$1.1 billion during Q1-2019, which is a marginal growth of 3% compared to the corresponding quarter of 2018. The recorded tourist arrivals had increased strongly which totaled to 483,978 in Q1-2019 reflecting a 15% growth compared to just 3% growth in Q3-2018.

Moreover, tourist bed-nights grew by 10% while the duration of stay had a decline from 6.5 days in Q1-2018 to 6.3 days in Q1-2019..

The tourism sector has been the fastest growing sector in the Maldives in Q4-2018, registering an annual growth of 2.5%. The sector has also continued to grow strongly in Q1-2019 compared to Q4-2018.

The strong domestic demand in the main source markets with increased air connectivity has contributed to the continuous growth of tourist arrivals reflecting increased flight movements from major long-haul carriers in Q1-2019 where the international flight movements to the Maldives had a growth of 15% in comparison with Q1-2018 reflecting an increase of over 900 flights The massive growth in the tourist arrivals is the result of the increased arrivals from the European region. They account for 56% of total tourist arrivals in Q1-2019, which registered an annual increase of 13%, reflecting the growth in the main source markets such as Italy (27%), France (28%), Germany (14%), UK (11%), and Russia (8%). Moreover, the Asia and Pacific region accounted for 35% of total tourist arrivals during the quarter which recorded an annual growth of 16%, owing mainly to a remarkable increase of 86% in arrivals from fast growing Indian market which is among the top five source markets since Q2-2018 while China accounted for 16% of total tourist arrivals.

The decrease in the price of electricity and staple food items has led to a decline in the rate of inflation from -0.2% in Q4-2018 to -1.3% in Q1-2019. The inflation had also declined marginally with the decline in the prices of tobacco, areca nuts, transport and fish which was partially offset by the increase in the prices of health sector related services and rental prices as reflective from the diagram below.

The decrease in non-tax revenues in the review quarter reflected a decline in the total government revenue during Jan-Feb 2019. The fiscal deficit was primarily financed from domestic sources where a considerable growth has been seen with the drop in capital expenditure and the increase in current expenditure. The deficit reflects the growth in domestic debt and the outstanding stock of public debt.

Increase over 900 flights

56%

Total tourist arrivals in Q1-2019

Bednight Growth and Average Stay, 2016 - 2019

The total number of resorts in operation increased from 129 in Q1-2018 to 139 in Q1-2019 while the guesthouses in operation increased by 65 totaling to 533 by the end of the review quarter.

These developments have expanded the operational bed capacity of the industry by 3744 beds, reaching a total of 44,707 beds representing a 9% increase in annual terms. The average occupancy rate remained at 75% from the corresponding quarter of 2018 while the occupancy rate increased to 88% in the resorts.

2016

2017

2018

2019

10

Economic Review

Corporate Maldives | Issue 1

The gross international reserves had a registered growth of

59%

Broad money growth was entirely the result of the rise in foreign currency denominated deposists

The decrease in non-tax revenues in the review quarter reflected a decline in the total government revenue during Jan-Feb 2019. The fiscal deficit was primarily financed from domestic sources where a considerable growth has been seen with the drop in capital expenditure and the increase in current expenditure. The deficit reflects the growth in domestic debt and the outstanding stock of public debt.

Monetary developments during Q1-2019 had been the result of demand deposits in the banking system. The broad money growth was entirely the result of the rise in foreign currency denominated deposits. The annual growth rate of money supply was recorded at 6% by the end of April 2018. Moreover, the upsurge in net foreign assets has been the main driver while the expansion in credit to the private sector which impacted the fiscal front of the nation where the total credit extended to the private sector by commercial banks amounted to MVR21.9 billion in the form of personal loans, credit lent to real estate, construction sector, and tourism sector.

Broad money growth was entirely the result of the rise in foreign currency denominated deposists

The external trade of the nation is also estimated to have narrowed as a result of the decline in imports and the rise in exports in Q1-2019. The sizable growth in re-exports with the rise in domestic exports along with the fall in import expenditure in construction related items, mechanical parts and machinery has contributed to the narrowed trade balance. The gross international reserves had a registered growth of 59% in annual terms and 9% in monthly terms where the reserves are now valued at US$788.8 million.

Economic data is retrieved from Economic Bulletins compiled and released by Research Division (RD) of Maldives Monetary Authority. It revealed the quarterly economic developments in various aspects in the Maldives during the year 2019. The data are based on information provided by relevant government authorities, commercial banks operating in the country, public enterprises and other private sector sources, as at 7 May 2019.

9% in monthly terms where the reserves are now valued at US$788.8 million 9% in monthly terms where the reserves are now valued at US$788.8 million 9% in monthly terms where the reserves are now valued at US$788.8 million 9% in monthly terms where the reserves are now valued at US$788.8 million

Corporate Maldives | Issue 1

Revolutionize MSME’s Financing in Maldives

SME Development Finance Corporation (SDFC) to Revolutionize MSMEs Financing in Maldives SME Development Finance Corporation (SDFC) was founded in March 2019, to fill the gap, provide loans and monetary assistance to business starters and other related individuals easily within one platform. Currently, it is difficult to attain from banks in Maldives for MSMEs who require assistance.

One of the reasons behind this is security requirements such as mortgaging where individuals don’t have sufficient materials that can be used as collateral. Lack of information circulated regarding financial assistance by banks and financial institutes has also played a role as most people are not informed or educated on what is offered.

Banks in Maldives have been having trouble checking the validity and the potential of its loan-takers due to few transactions carried out through the bank, to check how much their income is, the number of transactions done, and correspondence issues.

Due to this, it is taken as a perceived risk and it takes time to provide the necessary assistance to the individuals. This is the reason why SDFC came into being; to take on the challenges, to provide easier and flexible solutions for MSME businesses.

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Revolutionize MSME’s Financing in Maldives

Corporate Maldives | Issue 1

CHALLENGES It’s difficult to say currently how many established businesses are within the SME sector, since that data hasn’t been recorded yet. The SME act was instituted in 2013 and it is not mandatory for businesses to classify themselves under the SME law. It is a voluntary option for businesses. Due to this, the Bank hasn’t been able to record the amount of SME businesses there is in Maldives. However, based on MIRA tax files, 93% of the businesses in Maldives fall under the SME sector. Funds have not been facilitated for all these businesses due to the previously mentioned reasons.

It is generally difficult for most banks to finance these businesses as they have trouble making the risk assessment due to negligence in keeping track of finances and transactions of the SMEs.

HOW MSMES WILL BENEFIT? Under SDFC, SMEs will be funded through concessional rates that are easy and accessible. SDFC’s interest rate is one of the lowest available within the country, which is between 4% - 9%. One of the difficulties faced by businesses is the equity rate which is measured and covered by shareholders rather than by the creditors. SDFC’s equity requirement is maximum 20% but this can be lowered to even 10% depending on the project risk while other banks in Maldives require an equity of 30% when it comes to projects.

Taking a look at mortgaging, 90% is required by banks in Maldives when facilitating businesses and for collateral they usually look for real estate or vessels which are accepted by a minimum number of institutions. They also don’t mortgage land in the islands and this can be an issue faced by business owners in the islands.

What makes SDFC different is that they can facilitate loans without taking a mortgage from clients depending on project size and risk. SDFC accepts land,

buildings, sea vessels and inventory (stock) of businesses as mortgage when taking funds. Depending on the situation, they also offer the option where businesses can take funds in exchange for strong receivables that are provided to the company later. SDFC has easier and flexible options for SMEs, unlike other finance institutions in Maldives.

Hence, it can accommodate and help expand businesses.

EVALUATION PROCESS When releasing funds, SDFC primarily looks into the profit that can be gained through the project, the feasibility and how much of an improvement it can bring to the status of the business. They also check whether the businesses have the capacity to return the funds after all the expenses are covered.

These are the aspects that the company looks into when they receive proposals.

Secondarily, they check their past records to ensure that they are honest and capable people with a clean record to run businesses. This is an area which is checked by every financial institution before funds are released.

SDFC also checks whether the individual is someone whom they have to offer the security requirement and if the businesses are capable enough to offer an asset of value that can be taken as

PRIORITIZED AREAS SDFC also has some priority sectors that they are promoting under the Government mandate. They believe it is one of their responsibilities to promote these sectors to ensure economic growth and extend more economic benefit to the public.

Revolutionize MSME’s Financing in Maldives

Corporate Maldives | Issue 1

13

HOW A PROPOSAL IS REJECTED One of the areas the company primarily focuses on is local island tourism and transport. Since these are two areas that are connected, SDFC believes it is of utmost importance to improve these sectors to provide easier services when channeling people and goods from one place to another.

Another area the company focuses on is, real estate and construction, where companies face difficulties obtaining loans from commercial banks in Maldives. Their main priority is to provide the equipment, machinery and materials required by businesses.

SDFC is also very focused on improving the agriculture and fisheries sector in Maldives. These two are the longest standing main sectors in Maldives and plays a huge role in the economical growth of the country. They believe new approaches need to be taken to improve agriculture within Maldives though greenhouse and verticulture.

Another area the Government plans on improving is the Information and Technology sector, to provide and encourage through financial assistance for software developers and alike to expand their work. Manufacturing is also an area where SDFC’s interest lies within.

Priority is given to proposals that fall under the mentioned prioritized sectors.

For other sectors, funds are released depending on how good the proposal is, the risk and profit that can be attained by the end of the project. SDCF does not consider it as a requirement for it to be a registered business when submitting proposals to the institution. Once it has been submitted, they review it under the previously mentioned criteria and if it has been approved, then the business will have to make its official registration to gain access to the funds. It will be released according to the plan stated on the proposal, not all at once. The rest of the fund will be released after monitoring and reviewing the businesses.

There are usually three ways that business proposals will be rejected. First, if the proposal indicates that it’s a risky business with a negative outcome where the loan taker is unable to pay it off, SDFC will reject it right away. Second, if there are loans still to be paid by the individual - unless it is due to a valid excusable reason - the company will consider this as a risk as they do not want that unpaid loans to become a pattern with them.

Third, as mentioned before, a proposal will also be rejected if enough information isn’t provided or indicated in the document as this makes it difficult for the company to evaluate and check the risk and feasibility of the project.

Otherwise, the company would have to blindly accept it and this could cause issues in the future. These are the main three ways, a proposal may get rejected.

ADVICE TO MSMES SDFC advises business starters to research and understand the necessity of learning the chosen sector in order to flourish and take on the challenges that they may face rather than going headfirst into it.

Look for funds after the first phase is done, rather than learning the business

after businesses receive the financial assistance. This will make things difficult for SDFC during evaluation. Sometimes the company faces the issue where it indicates in the proposal that certain actions will be taken after the businesses receives the funding. Rather than that, they would like to suggest to indicate what the business background, the risks of the project and what it entails, how they plan to improve the business and what is the expected outcome of the project in the proposal. This will make it easier for the company to gather a comprehension of the business idea and the capacity of the person before it goes for approval.

SDFC also suggests to include a structured overview of how the funds will be utilized and on which areas. This is something a lot of businesses do not include when submitting their proposals.

It has to be very clear, otherwise banks or other financial institutions will have trouble processing it if the document does not underline the necessary areas since they have to blindly finance it. It will also provide SDFC the chance to consult and give advice depending on the product or idea they have to establish if it isn’t something that will work with the market.

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Corporate Maldives Business Expo 2019

Corporate Maldives | Issue 1

Corporate Maldives “Business Expo 2019”

If you're in business, this is a must attend event. A premier business networking and trade show in Maldives, organized by leading business news magazine "Corporate Maldives ". Attracting over 1,500 professionals and 150 business exhibitors, Business Expo is focused on targeted learning, networking, building valuable new business relationships and nding partners that help business owners to take their business to next level.

As of June 2019, there are 9,528 companies, 873 partnerships, 103 cooperative societies, 16,925 sole proprietorships and 2,024 SMEs registered at the Ministry of Economic Development. Maldives Business Expo is a unique concept that connects the business community to the general public. It enables traders – especially the Small Medium Enterprises (SMEs) – to promote their business portfolio, and allows entrepreneurs or startups to demonstrate their innovations and find the right audience for their products.

Corporate Maldives Business Expo 2019

Corporate Maldives | Issue 1

Corporate Maldives “Business Expo” is a two-day event full of interactions scheduled to be held on 29 and 30 September, 2019, in multiple halls at Dharubaaruge. During the Expo, four business summits will also be hosted. They are Maldives Young Entrepreneurs’ Summit, Maldives Women Entrepreneurs’ Summit, Maldives Tech Summit and Maldives Finance Professionals Summit.

;

Why Exhibit?

Organized by Orca Media Group, a leading media & marketing company with a successful portfolio of products.

Corporate Maldives is the most read english business news portal of Maldives.

A 2 day expo of pure business networking. Attended by the entire business community.

Corporate Maldives organizes the GOLD 100, the event for the leading 100 companies Prominent business figures & industry pioneers as speakers.

Maldives Business Directory & exhibitor booth to showcase business portfolio

Maldives Young Entrepreneurs’ Summit: The half-day entrepreneurial summit gathering prominent speakers from various corners of the business world.

Their stories and experiences are shared with young entrepreneurs seeking guidance and advice to start their own new businesses.

Maldives Women Entrepreneurs’ Summit: Represented by vibrant women entrepreneurs from Maldives who play a major role in the Maldives economy today. The entrepreneurs will share their knowledge and discuss how they developed their own businesses using their entrepreneurial skillset.

Maldives Tech Summit Maldives is a tech-savvy community where almost everyone has a smartphone. However, the latest tech innovations are very slow to be adopted in Maldives. The Summit intends to identify and address the problems related to developing, introducing and adopting the latest tech innovations in Maldives.

Maldives Finance Professionals’ Summit: The Summit gathers key financial decision makers, analytics, advisors and so on to explore the latest developments in the global financial industry. It will focus on areas such as banking, insurance, taxation, auditing and the likes with a focus on the financial industry of Maldives.

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PERIODICAL International Travel Trade Publication of Maldives

WEISSTRAD

www.weisstrad.com

18

Tourism

Corporate Maldives | Issue 1

The Maldives receives 1 million tourists in the ďŹ rst half of 2019 The Maldives has welcomed 994, 733 tourists at the end of July 2019.

The 1 millionth tourist to the Maldives arrived in the country on 2nd August.

Tourism statistics indicate that compared to previous year July, there has been a growth of 8% in 2019. It further states that the statistics show that total 132,144 visited the Maldives in the month of July. This is a 17.2% increase compared to last year’s first half.

The most dominating region to the Maldives during this period is the European countries with a 49% market share. Over 487,165 European tourists visited the Maldives by the end of July which is an increase of 16% compared to the last year. The Maldives saw tourist arrivals over 53,318, in the month of July 2019.

1,000,000 Visitors at 2nd August 2019

+17.2%

increase over 2018

The second leading market to the Maldives is the Asia Pacific region with a market share of 41.5%. Statistics show that 64,287 tourists visited the Maldives from this region in July and by the end of the month, total 413,066 were welcomed to the Maldives.

Compared to 2018 statistics, 2019 July has shown progress with tourists from America (5% market) share and 49,821 arrivals. Total 34,748 arrivals took place from the Middle East which is at 3.5% while another 9,730 arrived from Africa.

The top 10 leading markets to the Maldives currently are as follows: China (17.4%), India (17.4%), Italy (94.4%), England (7.4%), Germany (7.2%), Russia (4.9%), France (4.6%), UAE (3.2%), Japan (2.6%) and Australia (2.4%).

48% | 52%

Tourism statistics further indicate that over 45,983 beds from 49,095 registered beds were operated by the end of July with 6,228,166 bed nights by resorts, safaris, hotels and guesthouses. Tourists spend an average of 6.3 days in a property.

To promote the tourism industry in the Maldives, marketing promotion agency, MMPRC has been conducting numerous activities locally and internationally.

The corporation has conducted a series of roadshows in countries including Malaysia, India, Korea and Switzerland. They have further hosted media FAM trips to the Maldives from Russia, Korea and America to promote the country as a destination worldwide.

Men

Women

Tourism

Corporate Maldives | Issue 1

Top 10 Markets

Arrivals by region

China

17.4% Arival : 172,834 Growth: +7.6% India

9.4%

49%

Arival : 93,175 Growth: +99.2%

Europe Arrival : 487,165 Growth : +16.0%

Italy

8.1% Arival : 87,713 Growth: +32.3% Germany

7.8%

42%

Arival : 77,503 Growth: +19.7%

Asia & the PaciďŹ c Arrival : 413,066 Growth : +17.4%

United Kingdom

7.4%

Arival : 73,262 Growth: +11.1% Russia

5%

4.9%

America Arrival : 49,821 Growth : +26.6%

Arival : 48,294 Growth: +12.9% France

4.0% Arival : 39,265 Growth: +22.3%

4%

U.S.A

3.2%

Middle East Arrival : 34,784 Growth : +16.6%

Arival : 31,681 Growth: +31.6% Japan

2.6% Arival : 25,426 Growth: +15.0%

2.4% Arival : 23,785 Growth: +12.2%

1%

Africa Arrival : 9,730 Growth : +24.9%

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I ndia n O c ean Business F estival

20 20

Corporate Maldives | Issue 1

MACL to Transform Velana international Airport With New Development Plan

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MACL to Transform Velana international Airport With New Development Plan

The new passenger terminal is expected to host 7.5 million passengers, which is more than 3 times the current capacity.

Maldives Airports Company Limited (MACL) was formed in 2000 after being rebranded and dissolved multiple times. MACL takes on the critical responsibility of overlooking the largest international airport in the Maldives, Velana International Airport (VIA). VIA acts as a gateway connecting passengers to their dream destinations within Maldives. In order to tackle the issue of low capacity of the Airport, MACL has undertaken the largest Airport development project in the history of Maldives. Hence, our team at Corporate Maldives decided to dig deeper into the story to gain more knowledge on the project and its current status.

The project was initiated in order to accomodate the 2.4 million tourists per year goal of the government by 2024.

The different components of the project are as follows; the construction of a new runway, a new international passenger terminal building, car park facilities, new cargo complex area, new fuel farm, new seaplane terminal and new CIP/VIP terminal.The entire project equals to a cost of USD 1 billion.

Unlike most projects, the airport development project is not being carried out in phases, but rather,

simultaneously. The construction of the code F runway has been already completed and is expected to be operational by the last quarter of 2019. The new international passenger terminal is under construction and aimed to be completed within three years. The new cargo facility will have the ability to hold over 120,000 tonnes which is three times greater compared to the current capacity of 50,000.

The new fuel farm will consist of hydrant systems with an increased storage of 45 million litres of Jet A1 fuel. The new CIP/VIP terminal complex will be over 6,000 square metres in size. In addition, the new seaplane area is equipped with MRO facilities and over 80 docking areas for seaplanes. The new passenger terminal is expected to host 7.5 million passengers, which is more than 3 times the current capacity.

The project is well-thought-out, well-carried-out, and has set sights to the future. Once completed, it is expected to transform the current Airport to a world-class Airport, equipped with the latest and most modern amenities.

When the project concludes, it will bring a revolutionary change to the Maldives tourism industry and its economy.

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A Glance into HDC’s plans for Hulhumale’ an Artifical Masterpiece

Corporate Maldives | Issue 1

A Glance into HDC’s plans for Hulhumale’ - an Artifical Masterpiece

As an island that has been reclaimed artificially and made from scratch, Hulhumale has come a long way compared to many other islands in the archipelago that makes up the Maldives.

Housing Development Corporation Ltd. (HDC) was formed in 2009 under a presidential decree and works on developing the man-made island, Hulhumale’, to which approximately 530,000 individuals call home.

Hulhumale’ was made after the great Tsunami in 2004 to serve as a home to those over 12,000 individuals who had lost their homes in the disaster.

Since its founding, HDC has worked on improving all aspects of Hulhumale’. They overlook every single detail in the island, from the bushes lining the tarred roads to the carefully planned housing projects being carried out in Hulhumale’. Since it plays such a crucial role in the development of Maldives, our team at Corporate Maldives deemed fit to dig a little deeper and probe into the projects currently ongoing and upcoming for Hulhumale’.

Corporate Maldives | Issue 1

The most important project currently being overlooked by HDC is the “Hiyaa” project, which is a housing project being carried out in the second phase of Hulhumale’.

The most important project currently being overlooked by HDC is the “Hiyaa” project, which is a housing project being carried out in the second phase of Hulhumale’. The project is set to conclude by the mid-2020 and includes approximately 7000 housing units. HDC estimates that over 7496 housing will be supplied in the next 3 years.

They are also carrying out various infrastructural projects in both Hulhumale phase 1 and 2. One such project is the electricity network establishment in the second phase of Hulhumale and is expected to finish by 2020. Along with electricity, they are also laying out a water sewerage system for the 2nd phase of Hulhumale’ and is expected to finish by next year as well. According to HDC, both projects are being carried out on a phase out basis and 2020 is expected to see the end of the first phase of both projects.

In addition to the absolute necessities like water and electricity, HDC is also working on building 4 bridges, which will work to connect both Hulhumale’ phase 1 and 2. They are also working on constructing a bridge between Hulhumale’ phase 2 & the tourism island. HDC stated that this project will conclude by 2020 as well.

HDC also gave insight on the commercial projects that they have taken on in Hulhumale’. One such project includes the construction of an indoor sports complex which has been completed. The necessary arrangements for project operations are now underway for this, as per HDC. They are also working on an outdoor sports complex which is to be concluded by the end of July 2019.

To allow development in every aspect, HDC also took up a project to build a new local market and a food court which is also completed with the project operations now underway.They will also be concluding the development of Central Park, which has been split into four parts and have been phased out since its beginning. After years of waiting, HDC stated that this project too will conclude by the end of July.

As an island that has been reclaimed artificially and made from scratch, Hulhumale has come a long way compared to many other islands in the archipelago that makes up the Maldives. With so many development plans underway and upcoming, we can only guess how far the island will go in the future.

A Glance into HDC’s plans for Hulhumale’ an Artifical Masterpiece

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AD

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100 days pledges

by Goverment

Corporate Maldives | Issue 1

100 days pledges by goverment Percentage completed :

83 % completed

Blue Economy

100%

17% in progress

Good Governance

64%

Islam & Culture

67%

19 completed out of total 19

7 completed out of total 11

4 completed out of total 6

Enviroment

Social Harmony

Justice

83%

67%

85%

10 completed out of total 12

18 completed out of total 27

11 completed out of total 13

Transport

Health

Stopping Corruption

73%

93%

100%

11 completed out of total 15

14 completed out of total 15

10 completed out of total 10

Social Work and Sports

Education

Social Protection

90%

9 completed out of total 10

100%

11 completed out of total 11

82%

9 completed out of total 11

media & marketing company | www.orcamedia.group

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People

Corporate Maldives | Issue 1

The Hawks Pvt Ltd is a family owned company founded by Mr. Ahmed Rasheed Hassan and now managed by his children. With more than a decade of service, The Hawks is one of the leading companies in the import and distribution of high quality fuel across Maldives.

Mr. Ahmed Rasheed Hassan Founder & Chairman of The Hawks Pvt Ltd

“

Always be truthful – to the people, and to yourself. Be courageous enough to take on the responsibilities that come along in the line of business. ”

Could you tell us a little about how you got started in the industry?

I started out working as a clerk in a government office in an island. During the course of my duties, I started assisting the Katheeb and was promoted to the role of island chief later on. I served the government for almost 33 years. To ensure another source of income, we began selling bread rusk in our home back in the island. Even then I had a vision of getting into the bigger business of fuel delivery in the country. However, I could not really pursue it on a large scale as I was not financially well off at the time and lack of market back then.

Our Hawks adventure began in 2007. I bought a pickup truck with a capacity of 5000 liters and approached the majors in the market to receive fuel. Through a lot of effort and due to being ambitious, I managed to cooperate with Fuel Supply Maldives (FSM) as a start.

There were a lot of obstacles to overcome when I first started this venture; There was a high competition in the fuel industry back then. My determination and perseverance did not, however, waiver. As a result, we now have 14 fuel bowsers in the capital city itself, a strong fleet of 27 vessels, including 3 vessels that travel overseas, 5 ferries, 6 speed boats and our cargo and big fuel supply bargains with a capacity from 5,000 liters up to 4.5 million liters.

With the diversification of our business, our team has also expanded to roughly 275 employees by today. We are proud to offer our clients a more diverse service portfolio including boat yard services, our very own brick factory, construction services, sea transportation as well as the opening of two guesthouses.

Corporate Maldives | Issue 1

How was the transition from fuel supplies business to the tourism industry?

In order to not depend solely on the fuel supply business, we opened a small souvenir shop in Kamadhoo. During those days there was a passenger liner used to stop by at the island as we were one of the stops on the route. We received additional income from the shop as it was the only shop for the tourists on the island. This was our first steps into the tourism industry, shortly followed by the opening of a second souvenir shop in B. Eydhafushi.

With the growing of the tourism industry in the Maldives and the opportunities to open guesthouses and hotels on local islands, we expanded our business in this field.

We are proud to have the only hotel with a pool on the rooftop in Hulhumale. The Airport Beach Hotel features a total of 11 rooms and offers a luxurious stay and the finest dining facilities. Our second property the “Tropical Biosphere Hotel” is located where the story of our business started – on Kamadhoo Island. As we see the local tourism as a future-oriented area, we were keen to invest more in our home island and expect the opening of our third property the “Tropical Beach Hotel” on Kamadhoo island in late 2019..

What is one of the most significant challenges you have faced?

I had to undergo a lot of difficulties when I initially started the Hawks venture. The most difficult part was to procure fuel on time as a newcomer in the business. In the beginning it took almost one day to receive the fuel with mostly a very limited quantity. As a new player entering the market, company values such as reliability and delivery were important for us and the unstable procurement process a hurdle. An additional obstacle was the sabotage of our fuel tanker docked at Male’ harbor.

What do you consider as your biggest success?

It gives me great pleasure and peace to know that all of my six children have now completed their studies and are now making a name for themselves. Today, my children are the driving force behind the business, and that is my biggest success. I do not have to worry about them having to deal with the difficulties I had to endure.

With my years of business experience and their knowledge and professional education of today, we were able to make our operations a success.

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What is your advice to the small and medium entrepreneurs who are new to the industry?

Always be truthful – to the people, and to yourself. Be courageous enough to take on the responsibilities that come along in the line of business. You should observe closely and ensure that you are paying people who will help you to grow the business, and not hinder it in any way. Employers should hire good people, who will do the job properly and responsibly. If there is an employee who does not offer anything to you, do not be hesitant to take the necessary steps required towards that employee.

Commitment and knowledge of the operations at all times is very important. Be prepared to show managerial excellence and to invest a lot of time into your business.

Take responsibility for your employees, business partners and clients all around the clock.

Commitment and knowledge of the operations at all times is very important. Be prepared to show managerial excellence and to invest a lot of time into your business.

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Corporate Maldives | Issue 1

Mr. Mohamed Abdul Sattar Managing Director of M7 Prints

Could you begin with an introduction of your career?

My career had a rather humble beginning when I was almost 15 years old. I began working at a shop assistant as well weekly story bulletin called Buraara and helped out the owner with the printing. Shortly thereafter, I changed my career course in 1978 and started working at National Planning Agency (NPA) as a peon. NPA was interconnected to The President’s Office. As a peon, I performed many miscellaneous duties such as cleaning, delivering letters and such.

At the time, the President’s Office had a printing section and it deeply grabbed my attention. After sometime, I got the chance to help to sorting at the Friday prayer speech papers at President’s office. I also participated in a class to improve my writing to ensure I delivered my work in the utmost professional manner.

I then decided that I wanted to gain more diverse experience and changed to a budget clerk in the Treasury division under The Finance Ministry. It was a really different experience as I was involving of the governmental most valuable Treasury safe and got to physically feel bulk cash, gold and such. From there, I was promoted to an assistant secretary. Having already worked in a similar position, I decided to go in to a different post so as to diversify my work experience.

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The most important point, that I believe can never be stressed enough, is building trust. It is something that can get you where you want to be. Whatever you do and wherever you work, make sure that you work in a way where your customers can trust you without having to be vocal about how trustworthy you are. ”

Corporate Maldives | Issue 1

People

With this in mind, I got a chance to work at the Audit office which turned out to be a great learning experience.

I was able to unearth interesting cases of many different offices and different huge fraudulent cases with my seniors.

After working in the aforementioned post, I was suddenly struck with an incident that drove me to go back to my island. As it was at the time, there wasn’t much I could do at an island and I was required to take up fishing. I spent over 3 years working on a fishing dhoni even working as an engineer when required. I had a lot of problems while working as a fisherman as I got seasick and such but I still worked hard and never missed a day at fishing.

Within the 3 years, the dhoni I was working in became a recognized one within the Atoll. However, after two major life threatening incidents that happened while working in the dhoni I decided that it was time to move towards to complete my study in order to achieve my vision. I then made my way back to Male’ in 1983 and soon moved to work in State Trading Organization (STO).

How did the business idea of M7 come about?

Though I was still working in STO my interest and passion in the printing area was still engraved deep within me. The passion was just further kindled by the fact that it was a huge struggle to get a document photocopied at the time due to lack of photocopy places.

Having received promotions to a level of Product Manager at STO, I decided to go on and finally work on fueling my passion in printing. With my dream in mind, I asked one of my very best colleague Mr. Abdulla Salih to get me a printer in order to start photo copy service with my classmate. I always kept it in my mind that I am working to make the lives of my siblings easier, which made my will stronger. We started out small, naming our business SM Stationery. However, my partner soon decided to part ways due to lack revenue and hence, I was faced with the decision to change the name as the S stood for his initial. After careful consideration, I chose the name M7 with the M standing for Mohamed from my name and 7 standing for my wife being the 7th child of her family with my number of male siblings.

Soon after the country was struck with the unfortunate disaster of the Tsunami, we decided to expand our business into offset printing. Before that, we only worked with Photocopy and duplicating. However, we made the decision to expand with the constantly evolving needs of our customers. With the help of a Singaporean investor our business expanded into offset printing, later a local businessman gave us a big helping hand to expand our offset printing services to International level. In this movement I appropriate all the team members of M7, investors, clients, friend and family members.

In my opinion, when you get that trust from your clients, that is a marker of how successful your business is.

What is the biggest success that M7 has achieved?

Having achieved so much over the years it is difficult to pinpoint one certain success story of my life. But I certainly believe that being able to go from absolutely nothing to where M7 is till date is a huge achievement with clients’ trusts. So many believed that my work was an unprofitable line of business at initial stage and I am extremely happy to say that it was not the case.

It also makes me extremely happy when I gain the trust of my clients. In my opinion, when you gain that trust from your clients, it determines the success of the company. I also got loyal Team members at M7 working with me always, without their support this achievement will never be possible. A big thanks to all clients and stakeholders, family and friends including all members of M7 for contributing to us in all means.

A good working culture is important and cannot be imitated.

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People

What was the biggest challenge that you faced in your line of work?

I faced so many challenges to get to where I am. With a rather shaky childhood, I had to help out in homes in order to stay in Male’ and continue with studies. It was one of the hardest things that I had to go through but I endured it as I wanted to be a knowledgeable person.

Another rather difficult challenge I faced was moving into offset printing. Even though it proved to be such a struggle, it was definitely worth going in to offset printing.

What do you do differently from your competitors?

I have a very solid policy that I mentioned previously as well. I am a strong believer in establishing trust between myself and my clients. I also ensure that we deliver our work in an uncompromised manner. I personally make sure to instill these values in every single employee who comes to work under our company. In my opinion, having a good working culture is important. And the fact that I pay so much attention to maintaining these values are what makes M7 different from our competitors.

What would you like to say to upcoming young entrepreneurs?

The most important point, that I believe can never be stressed enough, is building trust. It is something that can get you where you want to be. Whatever you do and wherever you work, make sure that you work in a way where your customers can trust you without having to be vocal about how trustworthy you are. Instill good manners within yourself even in the smallest of situations so that your trustworthiness is visible to your clients in every way.

Corporate Maldives | Issue 1

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Corporate Maldives | Issue 1

Mr. Waleed Ibrahim Founder of Symphony Maldives

How did you get started?

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My advice to them is to keep moving forward with the changing market behavior. Don’t focus on others, focus on your own business goals.”

It began as a simple dream when I was very young. My father owned a bakery in Male’ called “Blue Bakery” and it was a very popular bakery due to its prime location on Marine Drive street. Best of all, it also doubled as a café.

People of all classes visited the bakery. Even then, I was mesmerized by my father’s humbleness as he attended to his duties as the host, taking care of the patrons’ requests. I observed how my father easily warmed up to and made friends with everyone who arrived in his shop .

After having to close down the bakery he was forced to join the government in order to support his family. He passed away when I was very young which compelled me to leave school and join the National Security Service. I served the government for 20 years but kept my dream of starting and owning a restaurant alive.

With the support of my loved ones, we slowly started the work of turning the dream into reality. Even from the beginning, my wife’s steadfast commitment to my vision was humbling. When we started having financial difficulties she took over the job of managing the home finances to help keep us afloat and achieve the necessary funds to get the company up and running.

After saving the required amount, we started building Symphony together. Finally in 1990, with seven tables and an assortment of select food items, Symphony Restaurant was open for everyone.

Corporate Maldives | Issue 1

People

What do you consider your biggest successes?

Whatever you do, that which gives you a good return in the long run is considered a success.With Symphony, I wanted to set standards for a restaurant experience that would elevate customer satisfaction, and at the same time create a brand that gleams the hospitality industry.

Everything was monitored closely, scrutinized personally by me at every stage. I managed to assemble and develop exactly the team who worked in unison and followed orders to the letter which I consider to be a success.

During my governance, I did not spend on Marketing and Advertising. As a matter of fact Symphony Maldives is a very human resource oriented company. All the aspects that I monitored ever so diligently struck a chord with our customers, resulting in a unique and easily recognizable brand loved by all and spanning generations. The “Never Changing Symphony” is a slogan given by my customers, and that is success.

Let’s talk about some of the notable challenges you’ve faced.

Seeing how my children manage the business at first was a challenge as it created a lot of friction between the team I had back then. I watched how they tackled the first challenge to make the company digital. With some hiccups, the new management showed the new phase of Symphony in terms of productivity and efficiency in work model, which gained their trust and proved their expertise to manage effectively.

Business penetration was easy with little to no competition back when I started. Now, it is a different story. There is now fierce competition from every side and market behavior has changed drastically.

Creating our very own brand like “Crystal Sands” coming up with branding concept, and building with an eclectic design that does not disrupt the authenticity of our own was a challenge.

What do you do differently from your competitors?

Seeing how my children manage the business at first was a challenge as it created a lot of friction between the team I had back then. I watched how they tackled the first challenge to make the company digital. With some hiccups, the new management showed the new phase of Symphony in terms of productivity and efficiency in work model, which gained their trust and proved their expertise to manage effectively.

Business penetration was easy with little to no competition back when I started. Now, it is a different story. There is now fierce competition from every side and market behavior has changed drastically.

Creating our very own brand like “Crystal Sands” coming up with branding concept, and building with an eclectic design that does not disrupt the authenticity of our own was a challenge.

What is your advice for young MDs and CEOs of tomorrow?

My advice to them is to keep moving forward with the changing market behavior. Don’t focus on others, focus on your own business goals. Evolve with the changing world. Embrace leadership and management as a practice to perfect your path towards excellence and develop new talents.

On a religious note, Allah’s blessings come in abundance with hard work. Have synergy with others in the industry, focus on your own enhancement and be original. One day you will know that you have done something right if people are following your trends and recipe’s..

Evolve with the changing world.

Embrace leadership and management as a practice to perfect your path towards excellence and develop new talents.

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Corporate Maldives | Issue 1

How did you get started at Al Shaali Marine?

Mr. Ismail Shareef Operational Manager at Al Shaali Marine

Al Shaali Marine Maldives Pvt Ltd is one of the leading manufacturers of boats and yachts in the Maldives. Al Shaali Marine is a joint venture between Al Shaali Marine Dubai and Coastline Investments Pvt Ltd, Maldives. Ismail Shareef, who has been working as Operations Manager at Al Shaali Marine for the past couple of years, talks to Corporate Maldives about the company and its future.

I joined Al Shaali Marine just a few years back actually.

Before that I worked in a number of places, but they were all experiences that contributed to getting where I am now. After finishing school, I first joined MWSC. Later I had just completed an engineering course at MIFCO when I was offered a job at Island Explorer, the biggest cruise liner in the Maldives at the time. I worked in the Front Office and even Accounts for more than two years while at Island Explorer. Two and a half years later Island Explorer stopped their operations because the boat had become very old and they couldn’t keep up with the repairs it required. Next I got a job as the Launch Section Manager of Marine Operations at Velassaru, or Laguna Beach Resort, before changing to Meeru Island Resort & Spa as the Transport Manager. I worked at Meeru until 2009 or so and completed a Marine Engineering course at FET during that time. After Meeru I worked at Sultans of the Seas for more than a year when I was contacted by Al Shaali to join them. After discussing the offer with Al Shaali’s Manager I was intrigued as I had never worked in manufacturing before and thought it would be interesting to see what kind of opportunities and challenges it would present for me. I joined Al Shaali in 2011 as Operations Manager and it has been a very interesting experience.

Tell us a little bit about Al Shaali and the major challenges for you when you joined.

Al Shaali was founded in 2006 and operations were based in Male’ then. In 2003, the base of operations was turned over to Dubai and we now work directly under instructions from them. Al Shaali is one of the few companies in Maldives that manufactures fiberglass boats and our 50-feet boats are one of our most popular

Corporate Maldives | Issue 1

products. Many of the resorts in Maldives use boats manufactured by Al Shaali Marine. During the first years, the biggest challenge I felt was our lack of innovation in design. Although sales were good, I felt sales suffered a bit because of that. Al Shaali’s “Interceptor”, one of the most well-known products in our lineup, is a rear-boarding boat, but the competition was offering front-boarding boats at the time and our market share was directly affected. I feel that if we had kept up with the latest innovations in manufacturing technology and designs, we would have been able to compete. However, Al Shaali has recently started manufacturing 36-feet fiberglass boats that offer boarding from the front, so we’re back in the running. Also there is more and more demand for bigger boats as the number of travelers are increasing every year. In Maldives, Al Shaali hasn’t started manufacturing the really big boats yet, but we are gradually working towards it as we believe it’s a prospective market. However, we don’t do anything without doing proper research so we will have to review the market and see if it is viable in the long run before we commit to it.

What do you think makes Al Shaali different from other similar companies?

The best thing about Al Shaali Marine is that it’s a very flexible company when it comes to meeting customer requests. We are always open to new ideas and willing to do something that we’ve not done before. We try to incorporate customer’s requirements into our designs as much as possible so that they will have exactly what they request from Al Shaali. We once built a 50-foot dhoni that was initially designed to hold a single engine and customized it to fit two engines just as the customer in Dubai had required. So you can see that at Al Shaali we take our customers’ requirements very seriously.

Your biggest achievement?

I think the most notable achievement for us so far has been that we once manufactured and exported five vessels to international customers. Two of the boats were sold to a company in Seychelles and another two to our customers in Dubai. Seeing locally manufactured vessels like that being used internationally is very satisfying. Another time we had the chance to manufacture a few boats here at our boatyard for a client from Florida, USA. However, after a lot of discussion it became apparent that it wasn’t a feasible option because the freight charges from here to Florida were

People

just too high. They could buy two boats from America for the price it took to build one here and send it to Florida. I should note that another of our biggest achievements is that we gave local companies the chance to buy boats at competitive prices, since we broke the monopoly that had existed prior to that. Also since we gave the highest priority to quality, our competitors had to raise their standards in order to compete with us. It’s a huge win for customers as they profit either way.

What does the future hold for Al Shaali?

In the next few years or so we expect to start manufacturing super-yachts in Maldives and export it to customers from all over the world. The biggest challenge is the lack of space and land for a boatyard, but we have planned ahead for this. The goal is for Al Shaali to become self-sufficient by then. We will only need to import the required materials from abroad. All the actual manufacturing work will be done right here in Maldives and we’ll be able to offer our products at the best possible prices so local companies will no longer have to buy boats from abroad anymore. Of course, another obstacle for us is the lack of laws and regulations to oversee everything. So we will need the help of the Government for this to work in a sustainable way. They need to pass regulations or create bills to oversee and facilitate the growth of this industry. For example, there’s no builder’s code still, even though there has been a lot of talk about implementing one for a long time. There’s also the problem of insurance. Or the lack of it, really. Despite all the challenges, I must say that we expect to be able to reach our major goals within the next decade.

As for myself, personally, I feel like I will still be working in this industry ten years down the line. I am looking forward to bringing new innovations and being there to help lead this industry into the future. I am hoping to be able to introduce new blood into this industry, maybe by providing training to those who are interested in this field, but the fact is that the current environment isn’t actually that conducive to such things. We already do provide some amount of in-house training to our staff but we need to expand that to provide higher quality and a wider range of training to more people. We can’t progress otherwise. This is something that I am personally interested in pursuing and I am aware that it will also take a considerable amount of time to research but I am looking forward to the challenge.

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Understanding New Gen Workforce Engagement

Corporate Maldives | Issue 1

Mr. Vaibhav Garg Advisory Board Member - Cornell Institute of Healthy Futures Cornell University, Ithaca, New York

Understanding New Gen Workforce Engagement Global workforce in today’s organizational set up are multi-generational with diverse demands and different levels of engagement. In order for leaders to communicate effectively with their teams comprising of varied needs and expectations—while simultaneously attracting, engaging and retaining right talent, leaders and managers must make more innovative efforts than ever before i.e. it is up to them to recognize the traits of their diverse workforce and provide a nurturing and growth oriented environment at the same time keeping a focus on behaviors that enable building and guiding teams towards desirable results while promoting organizational values and culture.

New Gen Facts – Understanding “them” BETTER New Gen aka Millennials and Gen Z (Millennials, or Gen Y, were born after 1980 and Gen Z was born after 1995) are adding to the 50% of the workforce in today’s global organizational structure and the type of work environment they expect vastly differs from what several organizations have in place. Both generations are tech-savvy and active on the digital and social media platforms with high level of hyper connectivity that keeps them always on and always available. This New Gen is also sensitive towards global awareness, social causes, career fluidity, quickly shift brand and employer loyalties with a clear sense of empowerment (often perceived as entitlement).

The number of employees from Gen Z is going to swell each year and it is critical that leaders and managers at all levels are sensitized to the preferences of this New Gen Workforce while creating a balance with existing employee demographics and be willing to change their styles appropriately, so as to engage with them.

Understanding New Gen Workforce Engagement

Corporate Maldives | Issue 1

Work Ownership

Let’s understand this workforce group better through some of the below listed facts

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People Development An ethical work place and surroundings are very important. They have a strong sense of civic duty, environmental awareness and community mindedness. There should not be a conflict between organization work philosophy and their values.

Career growth learning and development. New Gens, need to know how the tasks they are being assigned now will fit into the “big picture” of their overall career.

This “jaldi” (fast-track) generation looks for immediate pay-offs at work, including feedback, rewards and praise.

Challenging, stimulating and varied work. They want to work on a variety of projects that allow them to learn and use new skills rather than being assigned “grunt work.”

Firmly believe in two- way and transparent communication. Connecting online is the most preferred mode.

They want to express their individuality.

They want to be empowered.

They like their offices to be environmentally friendly / aware.

This is the most education oriented generation in the history. If you want a job well done, tell them how to do it.

They believe in flexi timings and want to use their own initiative and creativity to accomplish things without affecting overall objectives.

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Understanding New Gen Workforce Engagement

Corporate Maldives | Issue 1

Interpersonal Effectiveness New Gen connects with those elders whom they genuinely trust and respect.

They seek and respect leadership and mentoring, but hate power display. They appreciate a strong, knowledgeable BOSS who is empowering and acts like a guide, mentor and coach.

They seek instant and real time feedback, on the spot appreciation, not waiting for year-end appraisal. They view future as vague, exciting, uncertain and constantly changing adventure, as opposed to a fixated desired future.

Logical Reasoning: They don’t like only orders; they also like to know ‘why’.

Workplace enviroment & Work Culture Their need for attention, feedback and praise, liking for two-way transparent communication, respect for genuine leadership and hate for power display, team orientation and craving for

friendship, obsession with net and digital creativity, liking for varied & challenging work, career, learning and growth, viewing future as exciting and constantly changing and deep desire for ethical surroundings, community mindedness and work ethos, has to be central to the engagement strategy.

Enjoyable work environment. This generation group is all about interacting with their peers, so they don’t want to be isolated. They want their work environment to be fun.

They like the work to accommodate personal life and not otherwise. They treasure family, friends and personal time.

They like control over their time and flexible work environment that allows for work life balance.

Corporate Maldives | Issue 1

Understanding New Gen Workforce Engagement

Building Effective Teams Friendship is such a strong motivator for them that New Gen workers usually choose a job just to be with their friends or acquaintances.

They like information in small chunks, with further information available via hyperlinks. Internal communication templates should be visually rich. They engage well with images and videos. Turn corporate screensavers into interactive billboards. Digital technology is a preferred means of communication.

They value fairness and ethical behavior.

Health & Wellness New Gen are conscious about their appearances, looks, personality and proactive wellbeing.

New Gen brags actively on social media about their wellness, health and lifestyle initiatives - it's about personal satisfaction more than just a brag.

As New Gen craft their social media persona, body image becomes a primary concern.

73 per cent of millennials exercise to enhance their physical appearance.

The term "New Gen Engagement" refers to the extent of New Gen’s commitment, both emotional and intellectual, to accomplishing the work, mission, and vision of the organization which capitalizes on the diverse backgrounds, knowledge, skills, creativity, and motivation of its workforce. In general, New Gen feels engaged when they find personal meaning and motivation in their work and when they receive positive interpersonal and workplace support. Key factors contributing to engagement include training and career development, effective recognition and reward systems, equal opportunity and fair treatment, and family friendliness.

Hereby, factors inhibiting New Gen engagement should be understood and addressed by an organization. Understanding of these factors can be developed through workforce surveys, focus groups, blogs, or exit interviews with departing members of your workforce. In addition to direct measures of workforce engagement through formal or informal surveys, some other indicators include absenteeism, turnover, grievances etc. An engaged workforce benefits from trusting relationships, a safe and cooperative environment, good communication and information flow, empowerment, and performance accountability.

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ADB to Introduce High-Tech Systems in Maldives to Enhance Trade

ADB to Introduce High-Tech Systems in Maldives to Enhance Trade

Corporate Maldives | Issue 1

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The project will establish a national single window that can reduce delays and lower costs associated with the clearance of goods while maintaining the needed controls over fees and duties on imports or exports,” ADB Senior Economist Mr. Masato Nakane

The Asian Development Bank (ADB), has approved a financial package of $11 million to bring a single platform in the Maldives to improve the efficiency in import and export of products in Maldives.

The project is estimated to be worth $11.99 million with the government providing $1.99 million. While $5 million is provided as a grant by the ADB, the other $5 million is taken as a loan. However, ADB will also provide technical assistance of $1 million in equal parts by the Technical Assistance Special Fund and the High-Level Technology Fund.

“The project will establish a national single window that can reduce delays and lower costs associated with the clearance of goods while maintaining the needed controls over fees and duties on imports or exports,” said ADB Senior Economist Mr. Masato Nakane. “The project will improve the trade environment of Maldives and help expand trade with major trading partners such as India and Sri Lanka.”

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members — 49 from the region.

The Asian Development Bank (ADB), has approved a financial package of $11 million to bring a single platform in the Maldives to improve the efficiency in import and export of products in Maldives.

The project is estimated to be worth $11.99 million with the goverment providing $1.99 million

Corporate Maldives | Issue 1

Ooredoo Maldives m-Faisaa Wins Most Innovative Mobile Payment Service at Telecom Asia Awards

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Ooredoo Maldives m-Faisaa Wins Most Innovative Mobile Payment Service at Telecom Asia Awards Ooredoo Maldives won the Most Innovative Mobile Payment Service at Telecom Asia Award 2019 for its promising digital payments solution m-Faisaa, which allows customers to register for a “Mobile Wallet” to deposit, withdraw, pay and send money in Maldives instantly through their phones.

It also caters for the most number of utility payments in the Maldives, on a single platform

The company was also shortlisted as a finalist for the below mentioned categories in the prestigious Telecom Asia Awards, which recognizes excellence in innovation among telecom operators in Asia: Ooredoo Maldives, for Best Emerging Market Operator NIRU Accelerator Program, for Most Innovative Community Telecom Project Ooredoo’s NIRU Accelerator is a learning-based business accelerator program in the Maldives for innovative start-ups companies that are working towards social change, giving them access to a 12-week long intensive mentor-based learning program, co-working space, digital tools for building their business and the essential technical support from experts.

Ooredoo Next, for Most Innovative Social Media Strategy Supported by FastForward NXTTM real-time API platform featuring artificial intelligence and machine learning, Ooredoo NEXT allows mobile users to easily engage with Ooredoo inside social media channels such as Viber, Facebook Messenger and to check best offers, best data add-ons or just manage their Ooredoo services using real-time automated answers.

“Innovation is at the heart of everything we do. As such, we are truly honored by the international recognition for our work from one of Asia’s leading awards in the telecom industry,” said Najib Khan, Managing Director and CEO of Ooredoo Maldives. “It’s theme for 2019 was “Redefining the connectivity standards of the digital economy”, which remains a strong priority for Ooredoo Maldives.

Under our commitment towards Digital Maldives, we will continue to innovate and bring new and exciting solutions that enrich the lives of our customers.”

Now on its 22nd year, the Telecom Asia Awards is the region’s longest-running and most prestigious industry award specifically set up for the telecoms industry. In a digital-future first where disruptive competition tops the list of industry challenges, Telecom Asia wants to recognize and celebrate telecom companies that epitomize the spirit of competitive innovation. Winners in 28 categories were chosen from more than 100 fixed, mobile and convergence telecom operators from around the region, nominated by Telecom Asia readers, judges and editors.

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HPA Says That Maldivians Spend MVR 1.6 Billion on Tobacco Annually

Corporate Maldives | Issue 1

HPA Says That Maldivians Spend MVR 1.6 Billion on Tobacco

Maldivians spend approx. 1.6 million ruďŹ yaa on tobacco per the Health Protection Agency.

462 million cigarettes are imported in to Maldives on an annual basis.

Every year, over 84% people die from non-contagious diseases in Maldives.

Maldivians spend approximately 1.6 billion rufiyaa on tobacco on an annual basis as per the Health Protection Agency (HPA). This figure was released in the report published

by HPA for the World No Tobacco Day 2019.

According to the report, 462 million cigarettes are imported in to Maldives on an annual basis and the rate of cigarette consumption in Maldives is at an alarming level.

Every year, over 84% die from non-contagious diseases in Maldives. The 7 diseases to which most people requested for treatment from Maldives are all related to tobacco consumption as per Aasandha.

A demographic health survey conducted form 2016-2017 showed that from those aged 15-49 24.4% men and 2.7% women consume tobacco. In addition, a survey conducted in 2014 on students of ages 13-17 showed that 12.3% students smoked. Out of this 12.3% male students took up 17.5% while females took up 6.8%...

World Bank to Issue USD 20 Million to Increase Jobs in Maldives

Corporate Maldives | Issue 1

World Bank to Issue USD 20 Million to Increase Jobs in Maldives

The World Bank has agreed to give out 20 million dollars to increase jobs for youth in Maldives. The Board of Directors at the World Bank has already approved the issuance of this money, as per the Bank.

This 20 million shall be used to empower women in Maldives and to build their interest in areas such as ICT, said the World Bank. It would also be used to increase human capital in Maldives and to establish societal equity in the country by increasing the amount of jobs available in the country.

Out of this 20 million, 10 million is given as a loan while the other 10 million is free aid according to the World Bank. However, the Bank has not yet revealed the interest nor the payback period for the loan.

A 7% rise in the value of loans released to individuals by Banks. There has been a 7%

rise in the value of loans released by banks to individuals where MVR 23.1 billion worth of loans were issued during the first quarter of 2019.

According to the Quarterly Economic Bulletin released by the Maldives Monetary Authority (MMA), majority of the loans were issued to the tourism industry accumulating to 37% of the total amount of loans while the overall value is a 7% increase compared to the first quarter of 2018.

Referring to the other industries, 22% of the loans were issued to the construction industry which might have caused due to the increase in the number of loans given to individuals to build their homes where 9% of the loans were personal loans which is a 17% rise compared to 2018.

Out of this 20 million, 10 million is given as a loan while the other 10 million is free aid according to the World Bank.

A 7% rise in the value of loans released to individuals by Banks.

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Business News

Corporate Maldives | Issue 1

The amount of ďŹ sh exported from Maldives decreased

Customs collects MVR 287 million in the month of July

The amount of fish exported from Maldives in the first 6 months of this year has decreased.

Maldives Customs Service has collected MVR 287 million as revenue in the month of July.

According to the statistics of Maldives Monetary Authority (MMA), the amount of fish exported in the first 6 months of 2018 is higher than 2019. During the first 6 months of last year 33000 metric tonnes of fish was exported, while this year 32000 metric tonnes of fish was exported.

This is a 2% increase compared to the same period in 2018 where the company gained MVR 281 million.

Within the first 6 months of this year 17.2 metric tonnes of fresh and frozen Skip Jack Tuna was exported, while last year 20 metric tonnes of Skip Jack Tuna was exported.

Over MVR 4.1 billion worth goods were imported to the Maldives in July 2018 while the amount has declined to MVR 3.7 billion during the same period this year.

The second most exported fish was fresh and frozen Yellow Fin Tuna. The first 6 months of this year 9.5 metric tonnes of Yellow Fin Tuna was exported, while last year 7.3 metric tonnes was exported.

The export of reef fish has also decreased in the first 6 months of this year.

However, the export of packed and canned fish has increased by 29% compared to last year.

Statistics show that CIF (Cost, Insurance, and Freight) expense rate has decreased by 9% at the end of July this year.

An average of 21% of goods was imported from the UAE, 13% from Singapore and 11% of goods were brought from India.

Customs statistics further show that FOB (Free on Board) rate has declined between July 2018-2019.

Compared to last year, MVR 165 million worth goods were exported out of Maldives to countries including Thailand, Germany and France.

Corporate Maldives | Issue 1

Business News

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Flyme to introduce one-of-a-kind Twin Otter 300 Series plane dedicated to the Whaleshark

India and Maldives to be Connected by Ferry Services Ferry services are to be commenced between Kochi of India and Kulhudhuffushi of Male, as per Prime Minister of India, Honorable Narendra Modi. He announced this during his visit to the Maldives from 8-9th June 2019.

This is being done to boost tourism and increase connectivity between India and Maldives. A Memorandum of Understanding (MoU) was hence signed by both countries to establish this services. In addition, Hon. Narendra Modi, Hon. Solih both requested officials to carry out this project as quickly as possible .

The distance from Kochi to Kulhudhuffushi is 500km and it is currently estimated that the ferry will take approximately 24 hours to travel between the two countries.

Villa Air’s Flyme has announced that the domestic airline operator will introduce a Twin Otter 300 series plane in tribute of whale shark to the Maldives seaplane industry.

One of the largest fish in the sea and a protected endangered species, whale sharks are year-round residents of the Maldives.

There are two main whale shark sightings spots in the nation. The first is the well-known and only UNESCO Biosphere Reserve in Maldives — Hanifaru Bay in Baa Atoll while the second is the marine protected area off the coast of Maamigilli island in Alif Dhaal Atoll (South Ari Atoll).

Unlike the former, whale shark sightings are more common at South Ari Atoll throughout the year.

The new Twin Otter 300 Series plane's source of inspiration for the blue and sea green color scheme comes from this protected endangered species.

Similarly, Flyme will introduce three more one-of-a-kind liveries which will represent the indigenous fishes of Maldives.

The Twin Otter 300 series planes are expected to deliver to the Maldives

by March 2020, in time for the seaplane operations scheduled to begin commercially after the completion of the new seaplane terminal at Velana International Airport (VIA). The new terminal will have 4 stories and can accommodate 80 docking platforms.

Flyme had earlier brought in a Cessna Caravan C208 aircraft for seaplane operations in 2014 where the charter was only used for sightseeing and excursion trips. It had to be sold in 2018 due to limitation of space in the seaplane terminal and restrictions by MACL where the domestic airline operator was unable to expand seaplane operations.

With the establishment of the new government and the plans for developing the aviation industry, Flyme intends to make a come back into the seaplane industry with the new aircraft. .

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Business News

Corporate Maldives | Issue 1

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MAFI commends the policy initiatives by the government to promote and develop the MSMEs business sector

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Maldives Association of Finance Industry (MAFI) commends the policy initiatives by the government to promote and develop the MSMEs business sector which plays a crucial role in providing employment opportunities and is a catalyst for socio-economic progress of the country.

Government has recently announced its commitment to introduce new MSME business facilitation policies with a view of assisting the growth and development of MSME business sector through legislative reforms and executive actions.

Areas of special focus under the new policies includes changes in the government procurement policies to accord priority to MSME businesses for smaller projects not exceeding MVR 2.5 million. Furthermore, tax leniencies and human resource development assistances also form part of the policy package.

The policy changes further aim to improve the quality of services offered to MSMEs by government institutions and eliminating bureaucratic procedures that hinder their growth. The government also plans to introduce rewards and recognition initiatives to encourage SME entrepreneurs.

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Corporate Maldives | Issue 1

Maldives Partnership Forum 2019 Maldives Partnership Forum 2019, a joint event held by President’s Office, Ministry of Foreign Affairs and the Ministry of Finance has commenced in Kurumba Maldives on 17th June 2019.

Kicking off the Forum, President Solih commented on the high turnover and noted that Maldives has undergone a lot of development over the years. He spoke of his visions in bringing further developments to the country with the Jazeera Rajje pledges.

The Forum, themed “Investing in a Resilient and Sustainable Maldives” will consist of discussions on economic development in Maldives, establishing long-term partnerships with key partners and more.

Invitees from multiple countries and partners will be participating in this discussion.

The Forum is set to be carried out from 17th to 18th June 2019 with 4 key speakers who are; His Excellency President Ibrahim Mohamed Solih, His Excellency Vice President Faisal Naseem, Minister of Foreign Affairs H.E Abdulla Shahid and Minister of Finance H.E Ibrahim Ameer.

Business News

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Government Aims to Reduce Travel Time From an Island to an Airport in Under 20 Minutes Successfully The current government aims for citizens to be able to reach from an island to an airport in under 20 minutes as per Minister of Economic Development, Honorable Fayyaz Ismail. He said this at the first day of Maldives Partnership Forum 2019.

He explained that only 5 more airports are required to reach this goal. This would improve the country’s overall transport system along with the ferry services. Some of the construction work for the new airports are already underway and within the next 5 years, the development is estimated to be complete.

The Maldives Partnership Forum is being held from 17-18 June 2019 and is a joint effort by the President’s Office, Ministry of Foreign Affairs and the Ministry of Finance.

The event is being held at Kurumba Maldives.

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Business News

3 Development Projects Financed by India 3 projects being carried out in order to develop sewerage systems and renovate schools have been financed by the Indian Government with free aid of 19 million rufiyaa.

As per the Ministry of Foreign Affairs, the three projects on which the free aid will be utilized on, are the addition of classrooms in Raa Atoll Kinolhas and Noonu Atoll Lhohi along with the development of emergency medical services in Haa Alif Atoll Ihavandhoo.

12 million out of the 19 million will be used for building 12 classrooms in Kinolhas and Lhohi in order to change the operation of the school into one session. The remaining 7.4 million will be used for developing health services in Ihavandhoo as per the Ministry. .

Corporate Maldives | Issue 1

A new convention center inaugurates in Alif Alif Ukulhas Minister of Foreign Affairs Abdulla Shahid inaugurated the new convention center established in Aa. Ukulhas.

Speaking at the ceremony held to inaugurate the center, Minister Shahid said the center would open up opportunities for businesses in Ukulhas, and will help in organizing future conferences in the Maldives.

"The establishment of this center will open up new options for Ukulhas, and new business opportunities are guaranteed. It has provided reassurance that conferences such as this can be organized and held in the Maldives", he said.

Speaking further, Shahid said Maldives can be developed through centralization and empowering councils by allowing them the opportunity to generate income for their islands.

The convention center was constructed by Amin Construction Pvt Ltd over a period of 25 days. This is the project that reached completion at the fastest pace. MVR 14.8 million of the MVR 20.8 million spent on the project was funded by an Indian government grant aid.

Corporate Maldives | Issue 1

Operating Licenses Renewed for six resorts Six resorts whose operating licenses which has either expired or were taken away, have been given them once more, as per the Ministry of Tourism. This announcement was made in a press conference held by the Tourism Ministry on 26th May 2019.

The licenses were renewed under a new agreement that the resorts will ensure the security of the islands, pay fines within one year and that they will take care of their local staff under the necessary guidelines as per Minister of Tourism, Hon. Ali Waheed .

The six resorts whose licenses were renewed along with their due payments are; Filitheyo Island Resort (USD 8.12 million), Medhufushi Island Resort (USD 4.2 million), Kihaa Maldives (USD3 million), Palm Beach Island Resort (USD 3.8 million), Hondaafushi Island Resort (USD 4 lakh) and Drift Theluveliga Resort (USD 3 lakh).

Business News

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Maldives Leading International Travel Trade Show, (TTM 2019) Concluded Successfully

Corporate Maldives | Issue 1

Maldives Leading International Travel Trade Show, (TTM 2019) Concluded Successfully The Awards & Gala night was held in Adaaran Select Hudhuranfushi where the top producers in the hospitality industry were awarded 3000 meetings were held between local hoteliers and interested agents from both local and international markets TTM aims to facilitate the tourism industry of Maldives to reach the ultimate target of 2 million tourists with over USD 3.5 billion in the receipts by the end of 2020

The third edition of Travel Trade Maldives (TTM), the largest tourism event in Maldives has concluded with an eventful Awards & Gala night on 13th June 2019.

The Awards & Gala night was held in Adaaran Select Hudhuranfushi from 5 pm to 11 pm where the top producers in the hospitality industry were awarded in order to recognize their dedication and services to the industry.

a visit and spoke to the exhibitors and commended Orca Media Group for organising such a wonderful event.

In addition to the Awards & Gala night, the last day of TTM also concluded the final day of pre-scheduled meeting. A staggering total of over 3000 meetings were held between local hoteliers and interested agents from both local and international markets. The Minister of Tourism, Honorable Ali Waheed also made

Travel Trade Maldives (TTM) aims to facilitate the tourism industry of Maldives to reach the ultimate target of 2 million tourists with over USD 3.5 billion in receipts by the end of 2020.

The second edition of Maldives Supplier Expo also came to an end on 13th June.

The event proved to be highly successful and gave potential buyers an excellent opportunity to get an overview of offers for the industry.

Corporate Maldives | Issue 1

Team Maldives wins a Bronze Medal at China’s Cuisine World Championship

Team Maldives wins a Bronze Medal at China’s Cuisine World Championship

Team Maldives has won a bronze medal at the China Cuisine World Championship held at Shenyang, China from 21st-24th August.

Team Maldives has won a bronze medal at the China Cuisine World Championship held at Shenyang, China from 21st-24th August.

Launched in 2015, the Chinese Cuisine World Championship (CCWC) by the China Cuisine Association is an international level competition which aims to build a platform to promote the exchange of Chinese and Western cuisine and the development of Chinese cuisine worldwide.

Over 300 culinary elites forming 24 teams worldwide participated in the 2019 China Cuisine World Championship.

Six Maldivians Chefs took part in this event including Mohamed Adil from Faarufushi Maldives, Ahmed Mazim from Four Seasons Maldives at Landaa Giraavaru, Riffath Mohamed from Kuda Bandos, Ibrahim Nathif from Baros Maldives, Ahmed Fatheen—the owner of Oishii and the culinary consultant Ibrahim Naeem.

This year’s event also hosted the first Maldivian full-time judge for the CCWC, Chef Ismail Solih.

Chefs Guild of Maldives was launched in 2014 and is open to anyone who is working as a chef in the Maldives.

Members of the guild have participated in national and international exhibitions and competitions and have won numerous accolades.

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Economic Review

Corporate Maldives | Issue 1

How Eat.mv revolutionized Grocery Shopping in Maldives

Eat.mv is not a new brand by any means to the Maldivians. Since 2015, Eat.mv has been the No.1 guide for restaurants, CafĂŠs and other eateries to order food in the Maldives.

After publishing 2 print editions (2015 & 2016) and online editions, Eat.mv has moved on as an online grocery supermarket. The beta version of Eat.mv was launched on 29th March 2019.

Shopping seems fairly effortless. Customers are required to register on Eat.mv to shop.

Customers are able to select their preferred products from their favorite stores and throw them into a virtual cart on their mobile-friendly website. Eat.mv customers enjoy unique access to curated shopping lists as well as the ability to create their own shopping lists for various occasions and weekly shopping runs.

Once the products are in the cart, customers can select their preferred time slot (Eat.mv offers 4 convenient time slots) based on availability and then proceed to payment. All payments are processed via Bank of Maldives Payment Gateway.

Once payment is processed, Eat.mv team prepares the order accordingly.Eat.mv has partnered with Spyder Xpress to deliver their products. Spyder Xpress is state of the art tech platform which can help to minimize delivery errors and ensure a seamless transactional experience for customers.

Corporate Maldives | Issue 1

Eat.mv, Maldives first and only online supermarket successfully completed more than 2 thousand orders to date. Eat currently operates within greater male region.

With over 2000 products, they offer a wide range of products, which include fruits and vegetables, staples, household, personal care, imported and gourmet, Over the counter medications as well as beauty and hygiene products which are delivered to the customers' doorstep at a click of a button.

Recently, eat has put a major focus on Baby care products especially bringing in products such as Baby cereals, fomulas, puffs, yogurt melts, teethers and Fruit & vegetable packs from major brands like Nestlé Gerber, Happy Family Organics & Plum Organics that are essential to the growth and development of infants and babies alike.

“Eat.mv is the perfect source for customers who want to grab groceries at their convenience, all without leaving the comfort of their home,” said Fraath Mohamed, Managing Director of Laniakea Trade (Parent Company of Eat.mv). We’re delighted about the progress we have made in the online grocery space as a pilot project in Male’ City and we are excited about expanding onto all parts of the Maldives. Our repeat customers rate is at 33% which is a clear indicator that we have a loyal follower base. It’s just another way we’re making it effortless for customers to meet their needs” He added.

Grocery business in Maldives is believed to be a 1 billion Rufiyaa addressable market of which e-grocery accounts for only 0.1%. This number is expected to grow rapidly as Eat.mv continues to scale, at a time when many retailers and wholesalers alike are cutting down on their operating costs and moving towards online alternatives.

Eat.mv started with a handful of partners and today their inventory vendors include Seagull Foods, VB Brothers, Lily International, Premium Supplies, Happy Market, City Investments, De Essence, Euro-Marketing, United Food Suppliers, Maldives Industrial Fisheries Company, State Trading Organization, Life Support, Ace Hardware Maldives, BHM Traders, ADK General Trading, Redwave, Pyramid, M.U. Store, The Berry Company, Countline Maldives & Male' Aerated Water Company(Coca-Cola). .

Economic Review

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Eat.mv is the perfect source for customers who want to grab groceries at the convenience, all without leaving the comfort of their home ” Managing Director of Laniakea Trade, Fraath Mohamed.

Eat.mv, Maldives first and only online supermarket successfully completed more than 2 thousand orders to date With over 2000 products, they offer a wide range of products

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Maldives to Ban Single - Use Plastic by 2025

Corporate Maldives | Issue 1

Maldives to Ban Single-Use Plastic by 2025 The Parliament of the Maldives has passed a law banning all single-use plastic material starting from the year 2025 onward.

This issue was brought to the Parliament’s Environment and Climate Committee by a group of students, lead by students of Ghiyasuddin International School.

They justified their reasons to ban plastic with examples of global issues and threats, a plan to address the issue, and steps the Maldives can take to reduce the use of single-use plastics.

This is the first time students addressed in the Parliament and the committee looked into the issue deeply before drafting a bill and passing it to the Parliament floor for debate. With a total of 64 votes in favor of the bill at the end, the debate’s major argument was that the fisheries and tourism industry of the country depended heavily on the oceans and their well-being.

The Parliament agreed on the dangers of plastic for the Maldivian community and will promote the stopping of plastic products with their main focus on single-use plastics such as bottles and straws.

At the end of the debate, the Environment and Climate Committee called up on all the government offices to play their roles to stop plastic consumption.

FLOORS MADE FOR HAPPY LIVING. www.habitat.mv

Corporate Maldives | Issue 1

Maldives Association of Finance Industry

Maldives Association of Finance Industry

Registered in 2018, Maldives Association of Finance Industry (MAFI) is a non-profit organization of financial professionals committed to supporting, promoting and improving financial sector in Maldives.

The main priorities of the MAFI are to keep members informed of the changes in the financial industry and provide a forum for discussion in organized events on issues affecting the markets.

MAFI also aims to cultivate greater communication channels among members, markets, and other similar bodies so as to give members educational value & the opportunity to network through various events organized by the Association.

MAFI is comprised of professionals from companies and financial institutions across the Maldivian financial sector. “Maldives Financial Professionals Summit”, the annual event of MAFI provides a forum for members to enhance their professional skills, to keep up with current trends, and to exchange ideas with regional colleagues. This year the event would be held on 30th September at Dharubaaruge in conjunction with the Maldives Business Expo.

A non-profit organization of financial professionals commited to supporting, promoting and improving finacial sector in Maldives “Maldives Financial Professionals Summit”, the annual event of MAFI provides a forum for members to enhance their professional skills, to keep up with the current trends, and to exchange ideas with regional colleagues

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CORPORATE MALDIVES ACADEMY PRESENTS

WORLD’S LEADING QUALIFICATIONS IN MARKETING

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CORPORATE MALDIVES

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Opportunities in Agricultural development

Corporate Maldives | Issue 1

Opportunities in Agricultural development

BY: GASITH MOHAMED Mr Gasith Mohamed has been involved in agriculture, forestry and horticulture related activities in the Maldives for the last 11 years. Gasith has received agriculture and related sectoral education from India, Australia and Sweden. Gasith is one of the prominent national experts in sustainable agriculture. He currently specializes in Agroecology and works as a consultant for Agriconsulting Maldives.

For decades we have been talking about the importance of agriculture yet it still remains as one of the most under developed sectors in the country. According to Food and Agriculture Organization of the United Nations (FAO), agriculture now contributes to less than 5% to national GDP. In reality, agriculture is a diverse field and but for a long period of Maldives’s history, we were able to sustain through production of few crops without depending on imported food. This was when farming was carried out for subsistence – for day to day requirement.

Maldives now, a largely service oriented economy with geographical attributes unique to the region has physical limitations for agricultural expansion. Field crops (such as chickpeas, maize, cotton), animal husbandry (except to a small extent goats and poultry), cropping for fodder (animal feed), pulses and oil seeds such as sunflower and canola, in a marketable fashion has almost never been produced in the island environment. Also, same is the case for some major fields of agriculture such as largescale commercial flower production (floriculture), grapes orchards (viticulture), beekeeping for honey and pollination (apiculture), tree production mainly for timber (silviculture), mushroom cultivation for food and medicine (fungiculture) and silkworm production (sericulture). Despite this, agriculture sector had been a large contributor to the economy until the expansion of tourism sector in 1980’s. As Pickering (1989) has stated, no country anywhere has ever reached an advanced stage of economic development in the absence of agriculture as its primary engine of growth.

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Indoor and urban farming systems focusing on quality fresh produce Habitus Fresh Protected or semi protected large scale commercial hydroponics farms focusing on high value crops - Hortifarm

How have farming changed since then? To understand the general orientation of the sector, there are few hard facts that need to be stated. Firstly, majority of current production activities are saturated with ‘conventional’ practices that were transferred with the agricultural intensification programs of the 1960’s which followed from the ideas of ‘green revolution’. The main idea of green revolution was simple – intensively use resources, i.e. land, time, money and water with lot of inputs in order to produce the maximum from a unit land area. Since farming in localities for food and nutritional security was then a priority, especially in the absence of established linkages of global trade, this was an important idea for that era.

However, it addresses very little on context specificity, on food quality, sustainable resource use, food diversity and long-term farm management. Hence, as of Maldives agriculture is concerned, this is where we are at. We have large community of unskilled foreigners farming with little accountability in dispersed locations who uses latest agrochemicals to generate maximum yield possible, using scarce land and water resources. Secondly, most agricultural income is still based on few main crops including watermelon, chili and betel leaves (biley) that are grown in an unintegrated fashion. Therefore, we have low agro biodiversity – few crop varieties and livestock, low beneficial insects and microorganisms. Agrobiodiversity also reflects on the diversity of people and age groups involved in the cultivation

activities. This is the third point, which is the low presence of youth, skilled locals and women-led agribusinesses. And lastly, current agricultural activities are marked by inefficient resource use – large portion of seasonal expenditure is spent on foreign inputs, Lack of efficient irrigation infrastructure and lack of precision farming techniques that is based on weather and market forecasts.

To convincingly navigate agriculture sector in to a profitable industry, it is more relevant to focus on quality local food production rather than a quantity-oriented approach. To achieve quality is to be innovative and context specific. It is also about considering multiple factors other than the price of the food as the sole indicator of its value. In this respect, we may aim at distinguishing local products from imported produce in a manner that brings trust between consumer and producers at the same time generating an appeal for local food. In this regard we could use more of national and island level agricultural encouragement programs at school and university level, nutritional awareness programs in combination with health sector and agri-product certification and promotional activities. Additionally, here are seven areas that has great potential for developing profitable integrated agribusinesses with some notable (but by no means exclusive) examples from the Maldives.

Nursery plants production for forestry, ornamental and edible plants.

Herb gardens focusing on medicinal and therapeutic plants Large-scale integrated livestock production focusing on poultry (chicken) and goats Aquaponics and similar ventures that combines plants and fisheries aspects All these areas have potential for development for the hospitality industry – agritourism. In recent years there have been a plethora of visitors who are interested in experiencing local food in the island environment. This is certainly the time to pick up momentum and lead the industry towards a sustainable and equally profitable future. The government has certainly been doing a lot of work in reorienting the direction of agriculture sector. In this regard agroecological and climate smart agricultural practices are now being promoted country-wide with increased emphasis on farmer and local business empowerment.

Hopefully we might witness more start-ups in these areas in the coming years and most importantly private sector involvement is crucial in exploiting the opportunities that exist in these areas.

Events - 2019

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Events - 2019

February

Corporate Maldives | Issue 1

July

August

23

13 - 14

13 - 14

Gold 100 Gala 2019 At Paradise Island Resort & Spa Organized by Orca Media Group

AngelHack Maldives Hackathon 2019 At Male’, Maldives Organized by Dhiraagu, SparkHub & MMA

Unveiling Visions 2019 At National Art Gallery Organized by Maldivian Artist Community

March

July

August

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15 - 17

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Maldives Marketer’s forum At MNU Business Auditorium Organized by Corporate Maldives Academy

FHAM 2019 At Dharubaaruge Organized by Dhibehi Expo Service

Learning and Development Conference 2019 At MNU Main Auditorium Organized by Maldives Association of HR Professionals

June

July

August

11

17 -18

08 - 10

TTM Travel Summit 2019 At bandos Maldives Organized by Orca Media Group

Maldives Partnership Forum At Kurumba Maldives Organized by OPresident’s Office, Ministry of Foreign Affairs and Ministry of Finance

Recruitment and Career Expo 2019 At Dharubaaruge Organized by HR Maldives

June

July

August

12 - 13

19 - 21

22 - 24

TTM Prescheduled Meetings 2019 At Dharubaaruge Organized by Orca Media Group

Maldives Fitness Expo 2019 At National Art Gallery Organized by ICS Pvt Ltd

BuildEx Maldives 2019 At Dharubaaruge Organized by MNACI

June

July

August

13

20

26 - 28

TTM Awards & Gala Night 2019 At Adaaran Select Hudhuranfushi Organized by Orca Media Group

Marketeers Networking Session At Corporate Maldives Academy Organized by Corporate Maldives

Al Maldives 2019 At AA.Ukulhas Organized by Ugail Foundation

Events - 2019

Corporate Maldives | Issue 1

Events 2019

September

September

October

6th Maldives Islamic Banking Conference At Male’ Organized by UTO EDU consult

Maldives Tech Summit 2019 At Dharubaaruge Organized by Orca Media Group

Maldives HR Awards 2019 At Paradise Island Maldives Organized by HR Maldives

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September

29

September

13

October

18 - 20

30

15 - 17

Maldives Marine Expo 2019 At Dharubaaruge Organized by Blak Pvt Ltd

Maldives Women Entrepreneurs Summit 2019 At Dharubaaruge Organized by Orca Media Group

India Expo by SEFM At Dharubaaruge Organized by SEFM

September

September

24 - 26

30

Maldives Consumer Fair 2019 At Dharubaaruge Organized by Blak Pvt Ltd

Maldives Finance Professional Summit 2019 At Dharubaaruge Organized by MAFI

September

October

29 - 30

2019

Corporate Maldives "Business Expo " At Dharubaaruge Organized by Orca Media Group

TTM MICE & Weddings India 2019 At Bangalore, India Organized by Orca Media Group

September

October

29

07 - 09

Maldives Young Enterpreneurs Summit 2019 At Dharubaaruge Organized by Ugail Foundation

Hotel Asia Exhibition 2019 At Dharubaaruge Exhibition Center Organized by Maldives Exhibition & Conference Services Private Limited

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Food

Corporate Maldives | Issue 1

Black & delicious – Charcoal Black food and drinks at The Charcoal Café

Since its opening, The Charcoal Café has been grabbing the attention of the local cafe goers in Maldives. One of the main reasons why it has garnered so much attention is definitely it’s unique concept.

Charcoal café offers 4 charcoal flavored food and drinks, including a very exclusive ice cream for adventurous souls.

Wondering about how the idea came about we asked the Marketing and PR Executive at Coffeedivians LLP (parent company of Charcoal Café), Mr. Ali Naif (Naappe) who was happy to tell us the story of how it came to be. “We are frequent travellers and explorers and came across this fun and new-trending concept abroad,” said Naappe. “Since Maldivians are always up-to-date with the latest and most popular trends, we thought of introducing and sharing this concept with everyone enthusiastic to try something different and interesting as well.”

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He added that they initially only wanted to introduce the ice creams and later added the Charcoal pancakes, waffles and lemonade. Why Charcoal, you may wonder? According to Naappe, Charcoal is as good for your health as it is aesthetically pleasing to your eyes.

Charcoal has multiple health benefits stemming from its toxin absorbing properties.

As a cafĂŠ with such a modern concept, they originally intended for it to be more popular with children and the youth.

However, to their delight, they found that even families and elderly took a liking to the cafĂŠ. Naappe highlighted the support they receive from their customers and thanked them for loving and supporting their cafĂŠ from the bottom of their hearts.

He added that a charcoal burger and sandwich is upcoming and that he hopes that they will be as well-loved with their customers like the other Charcoal food and drinks.

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Food

Corporate Maldives | Issue 1

Quaint Maldives - Authentic Thai Food Franchise in Maldives

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We want people to have a good time, through our space; and the events it hosts – to create a sense of community and to start conversation through those,” Mr.Q at Quaint Maldives

Bangkok’s Quaint franchise opened its latest outlet recently in Malé, Maldives. Located In Maafannu, Izzudheenu Magu. boasting a range of authentic Thai favourites and much-loved desserts, including a signature honey-dripped pumpkin dish, delicately drenched in coconut milk sauce, and an array of specialty coffees ground from beans grown in Eastern Thailand, all served across a vast space in Maafunnu district.

Quaint’s extensive menu has something to meet the tastes of every Thai-food lover. With hallmark Thai dishes, such as pad Thai, green curry, and tom yum (hot and sour tamarind-based soup), and a selection of desserts, such as the well-loved mango with sticky rice, Maldivian and visiting fans of this unique cuisine are sure to be enticed.

Corporate Maldives | Issue 1

Food

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Quaint’s authentic Thai food, rustic design and spacious interior is set to be the most noteworthy arrival on the Maldivian food scene

In addition to the delicious meals, the stand out feature of Quaint is the vast space it occupies, offering a relaxing setting for a casual coffee or a large family meal. Quaint also offers private dining rooms, ideal for special events and celebrations, such as birthday parties, bridal showers, and business meetings.

Discussing the concept behind Quaint, Mr. Q at Quaint Maldives shared that: “Quaint aims to provide community members with a space where they can enjoy amazing dishes along with quality service. Similar to the other outlets of the franchise in Bangkok, we aim to create and host a number of events in the space to attract young people and families.”

“We want people to have a good time, through our space; and the events it hosts – to create a sense of community and to start conversation through those,” he added.

Asked about the most unique dish at Quaint, Mr. Q underlined Fak Tong Chum – a dessert that treads a delicate balance of sweet and sour, which is the genius of fine Thai cooking. Flowing over a honey-soaked pumpkin slice is a subtly sweet creamy coconut sauce; resulting in an exquisite range of flavours that always delights the gourmand or the newcomer.

Quaint’s authentic Thai food, rustic design and spacious interior is set to be the most noteworthy arrival on the Maldivian food scene.

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Product Review

Corporate Maldives | Issue 1

Purification

RO + UV + MTDS

Purification stages

6 Stages of water filtration and purification

Water storage capacity

6 Liters 6 KG

Dimensions

30.8 x 21.7 x 41.2 cm

Material

Food grade plastic

Power Rating

45 W

Operating Voltage

230 V, 50 Hz

Price

Sold on Koo.mv : MVR 4999

Product Review Water puriďŹ er If you are looking for an affordable RO water purifier with simple and beautiful looks and a good water purification system as well then Aquaguard Splash RO+UV water purifier is ideal for you. This water purifier comes with a simple but beautiful design and a good RO+UV+mtds water purification system. It also has some practical and useful features such as energy saving mode and voltage fluctuation guard which ensures its long life

Corporate Maldives | Issue 1

Life support sapphire product Ensure Diabetes care is a diabetes specific nutrition. It is scientifically formulated with slow release energy system to help manage blood glucose levels and support weight management. It also helps build muscle mass and supports heart and digestive health. The product contains high quality protein & sucralose (an artificial sweetener). It is Lactose free, trans fat free and by nature, is also free of gluten.

Product Review

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Product Review

Easy Registration Secure and authorization with an OTP Easy selection of items and quantity Customization options ( add extra toppings, choose 1/2 pizza ) Customization options ( through BML gateway or Cash payment on delivery Manage Addresses Available on iOS and Android

Corporate Maldives | Issue 1

Pizza Buona app Pizza Buona app is one of user-friendly food apps which is readily available on iOS and Android. Customers can easily register and secure authorization with an OTP. Items and the quantity can be selected easily without much hassle. Customization options such as adding extra toppings and choosing 1â „2 pizza are available. To make an order, customers have to fill in the address, floor and contact number. Payment options include BML gateway or cash payment on delivery.

RAS ERP

RAS ERP is a cloud-based ERP suitable for small and medium businesses. It comes with a fully featured HR module, Accounting, E-Commerce, Transport, POS & Inventory Management. RAS ERP is developed in the Maldives by Laniakea Tech.

RAS ERP PRODUCTS

RAS HRMS

RAS POS

RAS BUTLER

RAS ECOMMERCE

RAS TRANSPORT

RAS LOGIST IC

raserp.mv | marketing@raserp.mv

S

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Product Review

Corporate Maldives | Issue 1

S. DWT

90

S. Draft ( M )

4.849

L.O.A

27.80

Breadth

9.10

Depth

4.20

Bollard Pull

40 tons

GRT

266

Class

ABS

Type

Tractor

HP

1605 HP x 2

Hawks - Aaru The high performance tug boat is designed for ship handling purposes such as pushing and pulling of bigger vessels in a crowded harbor and of disabled vessels for safe sea transportation in Maldivian waters.

With well experienced captains and the latest safety equipment, the tug is available for rental for business clients and private vessel owners across the country.

Corporate Maldives | Issue 1

Product Review

Al Shaali AS 47 Boat name : AS 47 Length : 47 feet Beam : 13.2 feet Passenger Capacity : 55

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Corporate Maldives “Gold 100” - Maldives’ Most Prestigious Business Awards

Corporate Maldives | Issue 1

Corporate Maldives “Gold 100” - Maldives’ Most Prestigious Business Awards Maldives’ Most Prestigious Business Awards “Corporate Maldives GOLD 100 Gala 2018” was held at Paradise Island Resort and Spa on 23rd February 2019, attended by over 150 top level executives from the leading companies of the Maldives and VIP guests. The Gala is the foremost and most exclusive invite-only business networking event in the Maldives, where the leading 100 companies were selected in consultation with Cosmos Investment Advisors, a leading investment advisory firm in the Maldives. These top 100 companies which were selected from among 13,000 companies registered in the country and were presented with special awards as recognition for their diligent work and success. The list is not a ranking of businesses and as such is published in alphabetical order, and based on criteria ranging from scale of operation, success and innovativeness to Corporate Social Responsibility (CSR) efforts, compliance with laws and so on. The GOLD 100 magazine will be distributed to all businesses in Maldives and also displayed at leading international trade fairs.

The Lifetime Achievement Awards were also presented during the GOLD 100 Gala to two entrepreneurs who pioneered the development of the tourism and hospitality industry of Maldives; Mr Qasim Ibrahim and Mr Abdulla Ali. The Platinum Partner of the Gala was Bank of Maldives Plc., and Ms, Aishath Noordeen, Deputy Chief Executive Officer of BML, joined the event. Representatives of the Gold Partners of the Gala also attended the event; Mr Moomin Rasheed, Assistant Operations Manager of Al Shaali Marine Maldives; Mr Ahmed Shabiq, Underwriting Manager of Allied Insurance; Ms Aminath Halym, Senior Sales Executive of Qatar Airways; Mr Mohamed Abdul Sattar, Managing Director of M7 Print; Mr Arshad Shakir, Head of Brand, Digital and Public Relations of Ooredoo Maldives along with Mr. Hussain Aman, General Manager of The Hawks.

Corporate Maldives “Gold 100” - Maldives’ Most Prestigious Business Awards

Corporate Maldives | Issue 1

“GOLD 100” is the first initiative of its kind in the Maldives which provided a listing, categorized by industry, along with profiles of the leading 100 businesses in the country.

The GOLD 100 Gala is a highly exclusive networking event for the top executives in the Maldives to introduce, interact and mingle and form new business relationships.

The major objective of GOLD 100 and GOLD 100 Gala is to distinguish and appreciate the work done by prolific leaders of the business community in the Maldives, without whom the country’s economy and society would not have reached the status that it has today.

The 3rd issue of Corporate Maldives GOLD 100 magazine was unveiled at the event, launched by Deputy CEO of Bank of Maldives, Mr. Mohamed Shareef, and Chief Executive Officer of Maldives Getaways, Dr. Hussain Sunny Umar. The magazine contains the listing of the leading businesses in the Maldives, the GOLD 100, categorized by industry with company profiles and other up-to-date information.

The GOLD 100 awards were presented to the GOLD 100 companies by special VIP guests of the Gala; Minister of Health Hon. Abdulla Ameen; Minister at President’s Office Mr Ali Shiyam; President at Privatization and

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Corporatization Board Mr Mohamed Nizar and Immigration Controller Mr Mohamed Ahmed Hussain.

Maldives Investment Opportunities Guide was also launched at the Gala. This is a collaborative effort by Corporate Maldives and Maldives Association of Finance Industry (MAFI) and will allow local businesses and investment opportunities to be listed to attract international investors to the Maldives economy.

Launched at the GOLD 100 GALA 2018, The Corporate Governance Award – an initiative of Capital Market Development Authority, Maldives Stock Exchange, and Corporate Maldives, was also awarded for the first time at the Gala. The Award was presented in two categories and was given away by the Registrar of Companies Ms Mariyam Visam. The “CG Efforts Award 2019”. was awarded to DHIRAAGU and the “CG Efforts Award Private” was awarded to Allied Insurance Company Pvt Ltd. The event concluded with a dinner, giving attendees the time to network, exchange cards and make new business contacts. Corporate Maldives GOLD 100 Gala 2018 was an immense success and we hope the next event is an even more successful one.Corporate Maldives GOLD 100 Gala 2019 is scheduled to be held on 24th February 2020.

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Business News

MVR 457 million generated as Green Tax within the first half of 2019 The state has received a total of MVR 457 million as Green Tax during the first six months of 2019.

Statistic reports published by the Ministry of Finance show that within March and April, the highest amount of tax was generated.

During the first six months of 2019, the lowest revenue of MVR 56.4 million was generated in June.

Compared to last year’s statistic report, this year’s first half’s income saw an increase of MVR 10 million.

MVR 413 million was generated as Green Tax from resorts while MVR 17 million was earned from guesthouses.

The highest amount was generated from Kaafu Atoll, which has the most number of resorts and guesthouses in the country.

Green Tax was first issued in 2015. A rate of USD 6 per day is taken from tourists including foreigners without a resident visa staying at resorts, hotels, safaris and guesthouses..

Corporate Maldives | Issue 1

Government earns a record amount of revenue in July 2019 According to the statistics of Maldives Inland Revenue Authority (MIRA), a record amount of revenue was earned in July 2019.

The statistics of MIRA shows that MIRA earned a revenue of MVR 2.16 billion in July. Moreover, statistics shows that, July was the only month in which MIRA earned a huge amount of revenue compared to the first 6 months of 2019.

MIRA says that the revenue got high due to the increase of income from GTST, Green Tax and Bank Profit Tax. MIRA stated that the highest revenue was from GPT. A revenue of MVR 873.7 million, which is 40.5% of the total revenue.

However, MIRA also stated that the revenue earned in July is 1.3% less than the revenue they expected. The reason was the revenue they earned from BPT and GST was less.

A revenue of $50.56 million was earned in July 2019, which is a 6.3% higher amount earned in July 2018.

During the first 6 months of 2019 government earned a revenue of MVR 11.07 billion through MIRA.

Corporate Maldives | Issue 1

Revised business registration bill proposed to the Government A revised business registration bill has been submitted for review to the Government.

The bill pushes to nullify the act established regarding the operation of cafes, canteens and wholesalers and will provide easier access to register new businesses.

The bill was proposed to the Government by the parliament member Mr. Ibrahim Rasheed.

With the passing of the new bill, it provides solutions for business investors to incorporate their business and further strengthens the exceptions where foreign investors can establish a business in the Maldives.

The new bill proposes that foreign investors have to register a company within the nation in order to start a venture or create a partnership with a local company after obtaining the necessary permits under the foreign investment act.

It also pushes to nullify the act regarding the security deposit of USD 1 lakh by foreign investors.

The bill further pushes to remove the invalid acts regarding businesses operations and to create a better act that is more beneficial for the country.

Business News

Recurrent Expenses in First 6 Months Rise by MVR 1 Billion Recurrent expenses in the first 6 months of 2019 have risen by MVR1 billion in comparison with 2018, as per statistics by Ministry of Finance.

The statistics show that in 2018, the expenses equaled to MVR8.3 billion while in 2019, the amount was MVR9 billion.

The amount spent on wages and allowances also rose by MVR0.3 billion as per the report.

In addition, the expenses made on administrative purposes rose by MVR0.1 billion while transport and subsidies saw a rise of MVR 191 million.

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Rise of Muslim Fashion Brands

Corporate Maldives | Issue 1

Rise of Muslim Fashion Brands With the rise of Muslim Fashion, globally well-known brands are taking their stand to this niche market.

Due to the high consumer market led by the Muslim global population brands like D&G, DKNY, Victoria Beckham and Tommy Hilfiger are now catering to this market. Most recently, Zara released their own Ramadan collection which includes a variety of modest clothing..

According to the Chairperson of the Islamic Fashion Design Council, Alia Khan, modest fashion is not a new thing and it is not a passing fancy. It’s been around since the beginning and will stay till the end. She gives the credit to social media for having a lot to do with global fashion brands beginning to take notice.

Turkey, United Arab Emirates (UAE) and Indonesia are known as the biggest spender on modest fashion.

Khan highlights that this market targets a different mindset, different audience and hence the consumer behavior would also be different. If the brands understand the concept, they would gain much from it.

The most keyed into the demands of consumers are young Muslim entrepreneurs. Young designers will know the fashion and understand what the consumers needs and these designers are succeeding in the modest fashion market.

According to a survey done by Pew Research Center in America, Muslims are the fastest-growing main religious group. They estimated that by 2050, there will be 2.7 billion Muslims worldwide. And Muslims are predicted to grow 5% annually to $361bn by 2023.

H&M Features First Muslim Model Complete With Her Hijab

@NADA

SALON

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Ooredoo Maldives CSR Activities Report 2018

Ooredoo Maldives CSR Activities Report 2018 In October 2015, Ooredoo Maldives pledged its commitment to the United Nations Sustainable Development Goals (“Global Goals�), which aims to eradicate extreme poverty, improve the lives of people, and create an all-round healthier world for tomorrow.

In line with this pledge, Ooredoo Maldives has carried out multiple CSR activities since 2018 in order to ensure the betterment of Maldivian society. Hence, our team at Corporate Maldives contacted the telecommunications giant to gain further information on their activities.

Corporate Maldives | Issue 1

Corporate Maldives | Issue 1

Donation of Sea Ambulances Ooredoo Maldives donated three sea ambulances to the Ministry of Health in the Maldives. The donation comes following the Company’s earlier commitment to support the Government of the Maldives in providing quality healthcare to its citizens.

Smart Cities Project Ooredoo carried out this project in partnership with UNDP Maldives and the Housing Development Corporation (“HDC”) and carried out a number of initiatives under this program.

Smart Cities Baseline Assessment This was an assessment conducted as part of the Smart Cities Project to create a baseline, in order to understand how community-level interventions or housing management improvements could create a better life for people in Hulhumale.

Smart Inclusivity Campaign The Smart Inclusivity Campaign was continued throughout the quarter, to promote inclusivity within Smart Cities.

Coding Camp This camp was held to arm young people with the knowledge of coding could lead them to use technology to develop unique solutions for their everyday challenges they face within their communities. .

Ooredoo Maldives CSR Activities Report 2018

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Sci-Tech Festival This festival aims to inspire the next generation of innovators through initiatives which make young girls and boys excited about science and technology.

Promoting Disability Inclusive Development Forum This was the first forum of its kind to discuss how to make development disability-inclusive was held in June 2018 with the aim to review and improve accessibility and inclusivity of Persons with Disabilities.

Urban Innovation Challenge The theme of the Urban Innovation Challenge focused on Hulhumalé, is ‘Solutions for Public Services, Increasing Urban Resilience’ while the main focus points of the program will be social housing, urban mobility and urban waste reduction and management.

Digital Literacy Program In partnership with Women on Boards, the Digital Literacy Program was initiated as part of Ooredoo Maldives’ digital inclusivity strategy and its work to support a Digital Maldives. The program focused on teaching digital skills to senior citizens, from how to use a smartphone and the latest apps, to ensuring their safety while using mobile phones and the internet.

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Ooredoo Maldives CSR Activities Report 2018

NIRU Accelerator Program Ooredoo Maldives launched NIRU Accelerator, a first of its kind learning based business accelerator program in the Maldives, for innovative startups run by Maldivian entrepreneurs who are passionately working towards social change.

Current startups enrolled in NIRU Accelerator Program include: · Ideanize, which creates customised conversation agents for businesses helping them to digitalise and streamline operations. · Kumbu, a centralised sea-transfer management system to locate vessels, book tickets or hire an excursion vessel without any hassle. · B2B Maldives, launched supply.mv - an online platform which provides integrated logistics and supply solutions for business

Miyaheli Social Innovation Camp Ooredoo Maldives partnered with the United Nations Development Programme (“UNDP”) in the Maldives to launch ‘Miyaheli’, the Social Innovation Camp for youth.

Miyaheli brought together ideas from the youth and used digital and non-digital tools to create both tech-based and non tech-based social innovations to pressing social issues, all in just one weekend.

Whitelisting of webpages of NGOs This will allow members of the public to access the web pages without any data charges, thus allowing them to stay connected & up to date with the NGO’s activities.

Corporate Maldives | Issue 1

Partner for Allied Community Development Hub As a start to the Premium for Good initiative, Allied Insurance and UNDP Maldives along with Ooredoo Maldives will be working together under the community Hubs project where the vulnerable communities are able to acquire technological skills which broadens their horizons as people.

Disaster Relief As an active supporter of GSMA’s Humanitarian Connectivity Charter, Ooredoo was among the first corporations in the Maldives to volunteer their support in times of crisis; such as the water crisis in Male’, the devastating earthquake in Indonesia and more.

Awareness campaign for scam calls Ooredoo Maldives launched an awareness campaign for scam calls, with a PSA video and social media messaging.

Corporate Maldives | Issue 1

7 Reasons why CIM is a must for all Marketing Professionals Chartered Institute of Marketing (CIM) is the largest Professional Marketing body in the world, with more than 35,000 members and students across the world. CIM exists to develop both the marketing and sales professions, maintain professional standards and to improve the skills of marketing and sales practitioners. CIM allows you to complete Masters equivalent qualification in Marketing in Just 1 year with work experience. Here are 7 reasons why CIM is a must for all marketing professionals.

Ooredoo Maldives CSR Activities Report 2018

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CIM is the world’s largest organisation for professional marketers & they have a global reputation as a center of excellence.

CIM is equivalent to a professional masters recognized across the globe & your CV will stand out.

CIM is accredited by The European Marketing Confederation which is one of Europe’s largest marketing membership organisations.

CIM is the largest Professional Marketing body in the world, with more than 35,000 members and students across the world.

CIM courses are the only qualifications directly mapped to the UK government framework for national occupational standards for marketing.

CIM courses are driven by the pratical needs of marketeers & the industry they work in.

All CIM courses are based on detailed research and ongoing feedback from employers.

Corporate Maldives Academy is the only approved study centre for CIM in Maldives. CIM Courses are schedule to begin at the end of February.

To enroll call/SMS: 9139292 Email: training@academy.mv

As the CIM states in their own prospectus that its not about the usual industry standard qualifications – ours are the industry standard.

Our industry-leading printing solutions deliver exceptionally high quality print to create lasting impressions for your business.

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Digital Resorts by Ooredoo Business helps you transform into a digital organization.

Inclusive of a highly customizable Digital Resort App, Digital Entertainment (IPTV), Digital HR and Digital Hub (GPON) , our portfolio integrates seamlessly with your IT environment. This delivers superior guest experiences and improves operational efficiency.

If you are looking to grow your business through a differentiated guest experience, Digital Resorts is the solution for you.

The discerning guests at your resort expect the highest levels of service during their stay, ensuring that their holiday has more cherished memories than ever before. To deliver such superior guest experience, resorts are adopting innovative technologies that offer greater efficiency, agility and deeper engagement.

Digital Resorts by Ooredoo Business is a suite of innovative, cloud based, digital solutions that help you transform into a digital resort. This solution integrates seamlessly with your existing IT environment and optimizes cost.

The Digital Resorts portfolio includes:

Digital Resort App

Digital HR

A single window for your guests to engage with you effortlessly, before, during and after their stay.

A cloud-based tool to help you simplify the employee experience.

Digital Entertainment

Digital Hub

A fully managed, state-of-the-art IPTV platform which offers the widest choice of HD entertainment, video-on-demand content and in-room services.

A fully integrated Quad-Play solution built on a single Gigabit Fiber Network which delivers superior Voice, Video, Internet and TV services.

FIRST EDITION

Business Expo 2019

O ppo r tu nities E x po s u re Career

29/30

September

Dh a r u b a a r u g e Male’, Maldives