President Dr Mohamed Muizzu has announced that five atolls in the Maldives will receive special concessions aimed at expanding tourism in regions with the fewest resorts.

Speaking at the press conference held at the President’s Office today, President Dr Muizzu shared that 823,658 tourists have visited the Maldives so far this year, marking a 7.4 per cent increase compared to the same period in 2024.

According to the President, regulatory changes are close to completion to encourage investment in Haa Alifu, Haa Dhaalu, Shaviyani, Thaa, and Laamu atolls. These regions were selected due to their limited resort development.

The proposed concessions will apply only to these five atolls and will be offered for a limited time under a sunset clause. Key benefits are expected to include substantial reductions in land acquisition costs, along with exemptions on duties for imported goods and related items.

The President expressed confidence that the measures would attract more investors to these underserved atolls. He noted that the Government is finalising the necessary work and intends to announce the incentives and open up opportunities for investment later this month.

He also highlighted the launch of the Asseyri Tourism Development project in Addu City, describing it as a campaign pledge. The project, which opened for proposals on March 21 is being offered under a cross-subsidy model. The Administration is targeting the development of 6,000 tourism beds through the initiative.

Tourism, he noted, remains the largest contributor to the national GDP, and its expansion continues to be a key priority for the current administration.