Government establishes company to distribute profits from state-developed resorts
9 ނޮވެމްބަރު 2026 | ހޯމަ 13:27The President has established the "Dhiveheenge Resort Hihsaa Corporation," a state-owned enterprise aimed at ensuring the equitable distribution of tourism benefits among all citizens. The primary objective of this 100% government-owned entity is to develop resorts utilizing state resources and create a framework where every Maldivian can profit from the industry. Furthermore, the government has decided to legally mandate that the shareholders of resorts developed under this initiative shall be the Maldivian people.
President Dr. Mohamed Muizzu speaking to press. | President's Office
President Dr. Mohamed Muizzu has established a new state-owned enterprise, the "Dhiveheenge Resort Hihsaa Corporation," tasked with distributing profits from government-developed resorts.
The President's Office has announced that President Dr. Mohamed Muizzu established a new state-owned enterprise, "Dhiveheenge Resort Hihsaa Corporation (DRHC)," on Monday. The company was formed under the authority granted to the President by Section 15 of the Companies Act (Law No. 7/2023). The President's Office further noted that the corporation was officially established following the issuance of Presidential Decree No. 19/2026.
The President's Office stated that the company was established by the President to ensure the sustainable development of the Maldivian tourism industry and to guarantee that its economic benefits are distributed equitably among all citizens without discrimination. Furthermore, the company aims to enhance the value of state-owned lagoons, uninhabited islands, and natural resources, while building an investment portfolio that secures optimal long-term benefits for the state and future generations.
The President's Office stated that the company is a wholly state-owned enterprise established to develop and operate world-class resorts and tourism-related facilities, with a strategic focus on environmental conservation and renewable energy. Furthermore, the company aims to create employment and vocational training opportunities for Maldivians, boost foreign currency earnings for the national economy, and foster a robust and competitive tourism business environment in the Maldives through partnerships with both local and international investors.
Delivering this year's Presidential Address, President Muizzu announced the government's decision to develop at least 10 resorts through a state-owned enterprise over the next three years. He stated that a significant portion of the profits generated from these resorts will be distributed equally in foreign currency directly into the bank account of every Maldivian citizen. Furthermore, President Muizzu declared that a law will be enacted to ensure that every citizen of the Maldives is recognized as a shareholder in all resorts developed under this project.
