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No annual growth target for virus-hit China, a first in years

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China’s communist rulers avoided setting an annual growth target for the first time in decades Friday, as they struggle to deal with the “immense” economic challenges caused by the coronavirus pandemic.

Analysts say the move points to China missing its key political goal of doubling gross domestic product from 2010 levels, a blow to the ruling party’s pledge to provide prosperity in exchange for unquestioned political power.

The government usually sets economic growth targets that it regularly exceeds.

But this year, given “great uncertainty” caused by the pandemic, Beijing will not set a target but “give priority to stabilising employment and ensuring living standards”, Premier Li Keqiang told the opening of the National People’s Congress.

Before the pandemic, Beijing was widely expected to announce a growth target of around six percent this year.

But with the COVID-19 shock causing economic growth to shrink 6.8 percent in the first quarter, such a target was seen as no longer feasible.

Apart from raising its budget deficit target this year, China will issue another one trillion yuan ($140 billion) of government bonds for COVID-19 control, Li said, calling these “extraordinary measures for an unusual time”.

The added funds will be transferred to local governments, to be primarily used for ensuring employment, meeting basic living needs, and protecting market entities.

Li also said governments at all levels should “tighten their belts”, and that all types of surplus, idle and carryover funds will be withdrawn and re-allocated, to be put to better use.

Beijing will also issue 3.75 trillion yuan ($526 billion) in special local government bonds this year, in part to boost infrastructure spending in the virus-hit economy.

It will make further tax and fee cuts as well to help firms.

China has said it will tap its massive domestic consumer market to support the economy after external demand collapsed.

But the official urban unemployment rate rose to six percent last month, with analysts saying the real figure could be even higher.

Li said the government aims to ensure the urban unemployment rate remains around this figure, through the creation of over nine million new jobs.

  • Large price to pay –

The growth target is typically seen as a signal of the resources leaders are willing to spend to shore up the economy.

Tommy Xie, head of Greater China Research at OCBC Bank, told AFP this year’s move is “realistic”, reflecting global uncertainties from both COVID-19 and rising geopolitical tensions.

Analysts, however, believe the country still holds an implicit growth target of two to three percent for 2020, given its ambitious employment goals.

Li said China is “keenly aware of the difficulties and problems” the country faces, with COVID-19 sending the world economy into recession.

Although Beijing had “paid a large price” economically in its virus fight, he added it “was a necessary and worthy price to pay”.

However, Xie said China’s support measures remain below levels seen in other countries, lagging behind a global norm of around 10 percent of GDP.

Using similar guidance, this would translate to around 10 trillion yuan in stimulus.

Instead, Beijing has left itself “an open-ended option” for stepping up fiscal support if the situation worsens, he said.

Song Houze, a research fellow at the Paulson Institute, believes Beijing likely expects a “slow and uncertain” recovery from COVID-19.

Iris Pang of ING told AFP that officials’ support were below her expectations, although the work report tends to understate the fiscal budget — meaning authorities could beef up numbers if jobs do not recover or trade tensions worsen.

She added the report this year made “wise” political choices, given that having no growth target is less damaging than failing to meet a lowered one.

Reporting and photo: AFP

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SATA 2025 announces partnerships; confirms Hotelier Maldives, Maldives Insider as Media Partners

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Hotelier Maldives and Maldives Insider have been confirmed as official Media Partners of the South Asian Travel Awards (SATA) 2025. The announcement was made during a signing ceremony held at Hulhulé Island Hotel, Maldives, where SATA unveiled its distinguished partners for the 9th edition of the annual awards.

Now in its ninth year, SATA has become a key platform for recognising excellence in South Asia’s tourism and hospitality sector. The partnership with Hotelier Maldives and Maldives Insider will strengthen the awards’ regional visibility and ensure extensive coverage of the event across Maldives and beyond.

This year’s awards ceremony will take place from 19th to 20th September 2025 at Cinnamon Grand Colombo, Sri Lanka, bringing together industry leaders, stakeholders, and innovators from across South Asia.

In addition to the media partnership, SATA 2025 also announced its corporate partners. Honda Marine has been named the Platinum Partner, while The Hawks, Velana International Airport, and Allied Insurance Company of the Maldives join as Gold Partners. Renaatus Realty has been confirmed as the Silver Partner, and Hulhulé Island Hotel continues as the official Hospitality Partner in the Maldives.

Speaking at the ceremony, SATA organisers noted that the strong lineup of partners reflects the growing importance of collaboration within the tourism and hospitality industry. With the support of its partners, SATA 2025 aims not only to celebrate outstanding achievements but also to foster long-term cooperation and sustainable growth in the region’s tourism sector.

The awards are endorsed by leading national tourism bodies and associations across South Asia, including the Sri Lanka Tourism Development Authority, Nepal Tourism Board, Visit Maldives Corporation Limited, and several travel and hotel associations across the region.

This year’s evaluation process was conducted by a panel of nine jury members representing different countries, including tourism leaders from India, Sri Lanka, Bangladesh, Nepal, Bhutan, Spain, and the Maldives.

Through partnerships with media outlets such as Hotelier Maldives and Maldives Insider, SATA 2025 will ensure broad engagement across key markets, strengthening its position as one of South Asia’s most prestigious hospitality and travel award platforms.

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BBM, Mamee Food Services partner to elevate Maldivian dining with Asian Cuisine Engagement Week

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Bestbuy Maldives (BBM), a key supplier to the Maldives’ hospitality industry, in partnership with Mamee Food Services, has launched the Asian Cuisine Engagement Week. The programme, running from 29th June to 4th July 2025, is designed to introduce premium Asian sauces to the Maldives foodservice sector and upskill culinary professionals.

The official launch was held on Monday at BBM’s venue partner, the Faculty of Hospitality and Tourism Studies (FHTS) at The Maldives National University (MNU). FHTS continues to be a key collaborator with BBM on industry events and culinary development. The event was attended by over 40 chefs from leading hotels and restaurants in Malé. Representatives from Mamee Food Services travelled to the Maldives to lead the session, which included live product demonstrations and technical training.

The focus of the initiative is the introduction of Mamee’s premium Asian sauces, including the Daebak range, which features a variety of Korean and East Asian flavours. The programme aims to support chefs in incorporating these new products into their menus, fostering innovation within commercial kitchens.

AVS Subrahmanyam, Chief Operating Officer of Bestbuy Maldives, commented on the initiative, stating, “Our goal is to be a strategic partner for the culinary community in the Maldives. This collaboration with Mamee Food Services is a direct reflection of that commitment. By providing access to new products and facilitating hands-on training, we are investing in the skills of chefs and supporting the evolution of menu offerings across the country. This initiative aligns with our broader strategy to continuously elevate the culinary standards in the Maldives.”

He added, “We believe that introducing high-quality, authentic Asian flavours through our partnership with a globally recognised brand like Mamee will provide a new dimension to the dining experience for tourists and locals alike. This reinforces BBM’s role as a trusted partner for global F&B brands seeking to make a mark in the Maldivian market.”

Jennifer Chee, Director of Food Service at Mamee Food Service, expressed her enthusiasm for the collaboration, stating, “We are incredibly excited to partner with Bestbuy Maldives to bring Mamee’s authentic Asian flavours to the vibrant culinary scene of the Maldives. This engagement week is a fantastic opportunity to showcase how our premium sauces, particularly the Daebak range, can inspire creativity and elevate dishes in professional kitchens.”

“We believe that by working directly with chefs and providing hands-on training, we can truly empower them to explore new culinary possibilities and deliver exceptional dining experiences to their guests. We look forward to seeing the innovative ways Maldivian chefs will incorporate our products.”

Following the launch in Malé, a dedicated follow-up session will be held at OBLU XPERIENCE Ailafushi for resort-based chefs. This session will include participation from properties within the Atmosphere Core group, providing hands-on training focused on the scalable integration of Mamee products into commercial resort kitchens.

Throughout the week, the culinary team from BBM and Mamee will conduct on-site visits and tastings at selected restaurants in Malé, offering further technical support and guidance.

This joint initiative between BBM and Mamee Food Services is set to drive menu innovation and provide culinary professionals in the Maldives with the tools and skills needed to meet evolving consumer tastes.

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2025 sees Maldives reach 1 million tourist mark in record time

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Maldives has welcomed its 1 millionth tourist of 2025 on 7th June 2025, the fastest that the country has achieved a million tourists in our nation’s history.

Kajal Singh, an Indian national, arrived in the Maldives today on IndiGo flight 6E 1131 at 12:55. She is visiting for her honeymoon at Bandos Maldives. This is her first trip to the Maldives.

Visit Maldives, in collaboration with the Ministry of Tourism and Environment and Maldives Airports Company Limited (MACL), hosted a special celebratory event at Velana International Airport to commemorate this remarkable achievement.

“This milestone fills us with immense pride, reflecting the successful culmination of our destination marketing initiatives that showcase the true essence of the Maldivian experience,” stated Minister for Tourism and Environment Thoriq Ibrahim. “Welcoming one million tourists with such unprecedented speed is a powerful indicator of our global appeal, and I extend my sincere appreciation to all the hardworking individuals across the tourism sector whose dedication made this achievement possible.”

In a gesture highlighting the nation’s commitment to environmental sustainability, the one millionth visitor, Kajal, was invited to participate in the “Five Million Trees Planting Program” initiated by President Dr. Mohamed Muizzu. Kajal planted a tree at Hulhulé as part of this nationwide effort to combat climate change, enhance biodiversity, and promote a greener Maldives for future generations.

“This achievement is a clear indicator that we are well on our way to attaining H.E President Dr Mohamed Muizzu’s national tourist arrival target of 2.3 million for this year,” said CEO & MD of MMPRC Ibrahim Shiuree. “We are thrilled to celebrate this milestone with all our stakeholders, whose dedication and hard work are invaluable. Our commitment doesn’t end here; we are continually working to enhance the Maldives’ tourism industry and ensure the Sunny Side of Life remains a dream destination for everyone.”

The arrival of the 1 millionth tourist in 2025 marks a proud moment for Maldivian tourism, symbolizing the robust momentum generated by MMPRC’s strategic promotional efforts. Building on the resounding success of the recent Arabian Travel Market (ATM) 2025, where the Maldives captivated the global travel trade community with its powerful and immersive showcase, this milestone highlights the effectiveness of our enhanced global visibility and affirmed key industry partnerships.

Complementing these efforts, the ongoing comprehensive Summer Campaign, with its multi-market strategy spanning Europe and key international markets, is actively driving increased visibility and stimulating early bookings for both the summer and upcoming winter seasons. MMPRC’s marketing initiatives such as high-impact campaigns, strategic partnerships, and targeted outreach are significantly enhancing the Maldives’ global brand, boosting booking confidence, and solidifying its position as a leading, year-round holiday destination.

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