President Dr Mohamed Muizzu has established a wholly government-owned company, the Dhiveheenge Resort Hihsaa Corporation (DRHC), under Presidential Decree No. 19/2026.
The company was created using powers under Section 15 of the Companies Act. Its authorised capital is set at MVR 100 million, divided into shares of MVR 100 each.
DRHC is tasked with developing and operating international-standard resorts and related tourism assets. It will focus on maximising the value of state-owned lagoons, uninhabited islands and natural resources while prioritising environmental protection and renewable energy.
The President first outlined the plan in his 2026 Presidential Address. He said the government would develop at least 10 resorts over the next three years. A substantial portion of the profits would be deposited annually in foreign currency into the bank accounts of every Maldivian citizen.
Legislation is also planned to make every citizen a shareholder in the resorts developed under the scheme. The initiative aims to ensure that tourism benefits reach individuals directly rather than remaining concentrated among a few operators.
The company will seek partnerships with domestic and foreign investors. It is expected to create local jobs and expand vocational training in the tourism sector.
Officials describe the move as a way to build a long-term investment portfolio that benefits current and future generations while keeping control of key natural assets with the state.
