MVR 3bn revenue boost; hardship will be lessened: Pres
Speaking on the occasion, the President noted that last year was a fruitful year for tourism.
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By
Ahmed Mizyal
President Ibrahim Mohamed Solih said on Monday that the state received a record amount of revenue in a month’s time in January, which is a great hope for the future.
Delivering the presidential address at the inaugural session of the parliament for this year, President Solih stated that the state earned MVR 3.5 billion in revenue last month.
"The month of January is the highest revenue earner for the state in a month’s time in the country's history so far. That's MVR 3.5 billion," he said.
"The hope for the future has been renewed and people will not face any further hardships."
The president's presidential address also focused on specific areas. On the private sector, he said it is the lifeblood of the country's economy and the SME Bank, which helps small and medium enterprises, is one of the most effective steps to boost the private sector.
"The bank's calculations show a promising picture. The bank is providing necessary financial assistance to the youth, women and those who are in manufacturing. In this regard, the bank has released MVR 1.16 billion to a total of 1,100 beneficiaries so far," he said.
In his speech, the president said:
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Authentic Maldives shops begin to become international; they sell their products at Narita and Kansai airports in Japan
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Authentic Maldives has over 2,000 local products from 182 suppliers on display in the global market
Promising year for tourism, fisheries
Speaking on the occasion, the President noted that last year was a fruitful year for tourism and the government had set a target of 1.6 million tourists to visit the Maldives last year.
"The government aims to attract 1.8 million tourists by 2023," he said.
According to the president:
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Tourism sector to add 16,759 beds this year
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Addu and Hanimaadhoo international airport project is being completed and efforts are underway to add beds to the regions as well
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SME bank is gearing up to set up small traders in the two areas
President Solih said that local fisheries were one of the main reasons for the economic crisis caused by the Covid-19 pandemic and the war.
"The year 2022, saw the highest number of fish purchased by MIFCO in the last 16 years. and the year when the government released the highest amount of money to fishermen in the history of fishing. It is more than MVR 1 billion," he said.
The president said that the price of purchase of fish has been increased from March 1, 2022, and the next step is for the UK and The European Union to take a decision on fish duties. The expectation, the president said, was very high.
On agriculture, president Solih said that converting the work done by the farmers into income was one of the biggest challenges in the industry in the past and the establishment of a company called AgroNet has been established. He said through AgroNet:
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Over 800 farmers from a total of 46 villages have joined AgroNet's network
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As many as 385 farmers are engaged in contract farming
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As many as 534 farmers have been provided with agricultural inputs
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A total of 750 farmers will start the process and buy the produce from AgroNet by the end of this year.
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