Indian Industry

Country Profile

Maldives
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Maldives is an island nation which is situated in the southernmost part of the India's lakshwdeep islands. With 379,174 people, the nation has successfully achieved 96.2% and 96.4% literacy rate in both male and female sections. It is recognized as the smallest country in respect of its population. It is also known as the smallest muslim country in throughout the world. Service sector is the major GDP contributor followed by the agriculture and industry. Tourism industry is the major economy driven force which is generating maximum revenues for the nation. It shares good exporting relations with thailand, uk, sri lanka, france and other countries.

Snapshot

Official Name - Republic of Maldives
Capital City - Male
Type of Government - Presidential Republic
Currency - Maldivian Rufiyaa
Fiscal Year - Calendar Year
Official Language(s) - Dhivehi
Local Time - (UTC+5)
International Dialling Code - +960
Internet Domain - .mv
Major Towns/Cities - Kulhudhuffushi, Male, Naifaru, Thinadhoo
Major Industries - Tourism, Fish Processing, Shipping, Boat Building, Coconut Processing, Garments, Handicrafts, Coral and Sand Mining
Major Trading Partners - U.S., Thailand, Sri Lanka, Japan, UK, Germany, Singapore, UAE, India, Malaysia, Bahrain
Double Taxation Treaty with India - No



Economic Overview
  • Economy is growing at a robust pace of 20%.
  • It is considered as the world's largest tuna exporter.
  • Worldwide known for its supplying of grouper, snapper, marlin, sailfish, swordfish.
  • Tourism industry is the highest earnings earner with more than 20% contribution in GDP.
  • Fishing is the second most important sector after tourism industry.
International Trade

Major Export Items
Fish, Clothing

Main Destinations of Exports
Thailand, United Kingdom, Sri Lanka, Japan, France, Algeria

Major Import Items
Petroleum Products, Ships, Foodstuffs, Clothing, Intermediate and Capital Goods

Main Origins of Imports
Singapore, UAE, India, Malaysia, Thailand, Sri Lanka

Contacts of Trade Ministries/ Associations

Maldives National Chamber of Commerce and Industry State Trading Organization Ministry of Trade and Industries
G. Viyafaari Hiya
Ameenee Magu
Male-20-04
Maldives
Tel.: +(960)-326634
Fax: +(960)-310233
E-mail: mncci@dhivehinet.net.mv

7, Haveeree Higun
Male-20-02
Maldives
Tel.: +(960)-325823
Fax: +(960)-325218

Ghazee Building
Ameer Ahmed Magu
Male-20-05
Maldives
Tel.: +(960)-323890
Fax: +(960)-323840
E-mail: webmaster@trademin.gov.mv

Maldivian Traders Association Ministry of Fisheries, Agriculture and Marine Resources Maldives Traders Association
Metropolis 3rd Floor
Male 20-02
Maldives
Tel.: +(960)-326634
Fax: +(960)-321889
E-mail: nce@eureka.lk

Ghazee Building, First Floor
Ameer Ahmed Magu
Maldives
Tel.: +(960)-322625/321239
Fax: +(960)-321168/326558
E-mail: kosala@slt.lk

G.Viyafaari Hiyaa, Ameenee Magu
Male
Maldives
Tel.: +(960)-326634
Fax: +(960)-321889


Business Visa Rules
  • Valid passport with 3 months validity beyond the duration for which the visa is issued.
  • The applicant is required to give the residency permit of the native country which should be valid for at least the time of travel with additional 3 months.
  • Duly completed application form with 2 recent photographs pasted on it.
  • Letter of invitation from the company or business associate situated in the maldives.
  • Applicant is required to proof that he/she can bear minimum US $50 expenditure every day. For proving the fact the applicant is needed to give bank statement or any other documentary proof. In case the trip is sponsored by the company then he/she is needed to give the letter written on the company's letterhead, which should explicitly mentioned that all the monetary expenditure of the applicant will be borne by the company itself. The letter should also mentioned the salary and that he/she has been given vacation for visiting the maldives. It should be signed by the authorized person from the company.
  • Copy of the return ticket.
  • Health insurance, which should be valid for the applicant's whole stay in maldives.
Business Hours

Offices:   Sunday to Thursday from 08:00 - 13:30
Banks:    Sunday to Thursday from 07:30 - 14:30

Public Holidays

Festival Date
New Year's Day January 01
Islamic New Year Date Varies
Mawlid al-Nabi (Birth of the Prophet) Date Varies
Duruthu Full Moon Poya Day Date Varies
The Day Maldives Embraced Islam Date Varies
National Day Date Varies
Independence Day July 26-27
Ramadan Begins Date Varies
Eid al-Fitr (Ramadan ends) Date Varies
Victory Day November 03
Republic Day November 11
Hajj Day Date Varies
Eid al-Adha (Feast of the Sacrifice) Date Varies
maldives


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