President Ibrahim Mohamed Solih has formed a company named “Road Development Corporation Limited” in order to stabilize the country's transport system.

The President’s Office on Sunday revealed that the company was formed under Article 95 of the Companies Act of the Maldives and the company will undertake tasks pertaining to the stabilization of the transport system across the country.

As such, the company will be developing better roads for the people across inhabited islands.

Road Development Corporation Limited is a 100 percent government-run company and was formed under a resolution by the President.

The company will also focus on the construction of long routes and linking islands via bridges and highways.

President’s Office also revealed that this initiative is an important step towards the economic development of the country.

This comes at a time Malé City Mayor Shifa Mohamed has stated that the situation and condition of roads in the capital city required urgent development. She stated that it is on the top of the council’s to-do list, to re-structure the roads of the capital city.