President Dr Mohamed Muizzu has established a state-owned company tasked with developing resorts and distributing a portion of their profits directly to Maldivian citizens.
The company, Dhiveheenge Resort Hissaa Corporation, was created by presidential decree under the Companies Act. The government will own 100 per cent of the entity. It is intended to develop and operate tourism facilities with an emphasis on environmental protection and renewable energy, while creating jobs and technical training opportunities for Maldivians.
The President first outlined the concept in his address to the People’s Majlis earlier this year. He indicated that at least ten resorts could be developed through the company within three years, with a substantial share of profits deposited annually into citizens’ bank accounts in foreign currency. Preliminary estimates have suggested that each citizen could receive at least USD 400 a year once the resorts are operating, with payments expected to begin from 2030.
Legislation is also planned to make every Maldivian citizen a shareholder in the resorts developed under the initiative. The company will seek partnerships with local and foreign investors while maximising the value of state-owned lagoons and uninhabited islands.
The move is presented as a way to broaden the direct economic benefits of tourism beyond traditional employment and tax revenue.
