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Maldives establishes Tourism Trust Fund to enhance sector development and sustainability

Maldives establishes Tourism Trust Fund to enhance sector development and sustainability

The Maldives government has unveiled regulations for its new Tourism Trust Fund, designed to promote sustainable tourism development. The fund will draw capital from four main sources: sponsorships, corporate social responsibility contributions, investment income, and training fees.

A seven-member Fund Management Committee, appointed by the Minister of Tourism, will oversee operations. The committee includes representatives from key government offices, including the President’s Office and the Ministry of Finance.

For its first five years, the fund will focus on tourism development projects, facility investments, capacity building programs, and public social benefit activities. Annual reports will be submitted to the President, Parliament, Ministry of Finance, and Auditor General to ensure transparency.

The initiative represents a strategic move to secure long-term sustainability in the Maldives’ tourism sector while maintaining world-class standards and supporting local community development.

Read the original article here: https://www.travelandtourworld.com/news/article/maldives-establishes-tourism-trust-fund-to-enhance-sector-development-and-sustainability/#google_vignette

Malta to host 2027 Commonwealth Youth Games

Malta to host 2027 Commonwealth Youth Games

Malta has been selected to host the eighth Commonwealth Youth Games in late 2027, marking a significant milestone in the event’s history. The games will bring together over 1,000 young athletes aged 14-18 from 74 Commonwealth nations and territories, competing across eight sports.

The Mediterranean island nation will introduce two new sports – sailing and water polo – alongside traditional events including athletics, netball, squash, swimming, triathlon, and weightlifting. Notably, the 2027 games will feature the most extensive Para-sport program in Commonwealth Youth Games history, with para-swimming making its debut alongside para-athletics.

The competition will be spread across Malta and the Gozo Islands, utilising existing world-class facilities organised into four main clusters. Two athlete villages will be established using local hotels. Commonwealth Sport President Donald Rukare praised Malta’s athlete-first approach and proven experience in hosting international events, emphasising the games’ role in developing future sporting talent. While specific dates remain to be announced, the selection of Malta aligns with Commonwealth Sport’s strategy to bring the Youth Games to smaller island nations.

Read the original article here: https://www.msn.com/en-in/sports/other/malta-to-host-2027-commonwealth-youth-games/ar-AA1JEr9H?ocid=BingNewsVerp

Malaysia pledges over US$240b in US deals to avert trade fallout, lower tariffs

Malaysia pledges over US$240b in US deals to avert trade fallout, lower tariffs

Malaysia has secured a reduced US tariff rate of 19% through substantial trade agreements valued at over US$240 billion, as announced by Trade Minister Tengku Zafrul Aziz in Parliament. The comprehensive package includes US$150 billion in semiconductor and technology procurement, a US$19 billion Boeing aircraft deal, and US$70 billion in Malaysian investments in the US, along with commitments for coal, LNG, and telecommunications equipment purchases. In return, Malaysia will reduce duties on 98.4% of US imports and ease restrictions on US tech companies.

The new tariff rate aligns Malaysia with most ASEAN nations, while protecting an estimated 100,000 jobs potentially at risk from trade disruptions. While semiconductors currently enjoy tariff exemption, they remain under US national security review. Notably, the Boeing aircraft purchase was clarified as part of a pre-existing fleet renewal strategy rather than a tariff response. The US remains Malaysia’s largest export destination, with exports worth RM198.7 billion in 2024, and it continues to be a significant source of foreign direct investment, at RM32.8 billion.

Read the original article here: https://www.businesstimesintl.com/asean/aseans-qr-linkage-push-go-local-could-chip-away-greenbacks-grip

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The Commonwealth Chamber of Commerce: Milestones and Moments Video

The Commonwealth Chamber of Commerce: Milestones and Moments Video

It has been little over a year and a half since the Commonwealth Chamber of Commerce came into existence.

The Chamber was set up because right now we are at an immensely important juncture in modern history; now more than ever is the moment for Commonwealth business to realise the benefits of being part of the global network of the Commonwealth family.

Webinar on the Isle of Man: The Exemplary Jurisdiction for Asset Management Recording

Webinar on the Isle of Man: The Exemplary Jurisdiction for Asset Management Recording

Our notable speakers provide a compendium of information on the structure of the territory’s legal system, its financial services and the multifaceted process for relocation. They also discuss the factors and governance frameworks that have led to the success of the leading financial jurisdiction as well as the many incentives that make the Isle of Man such a prime destination for relocation, particularly for internationally mobile families.

South/East Asia StartUp Summit 2022

South/East Asia StartUp Summit 2022

The international conference focussed on tech-enabled entrepreneurship in Southeast Asia and provided a virtual platform to engage youth with different activities and discussing exciting opportunities being created as the region’s ecosystem continues to thrive and grow!

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