President Dr Mohamed Muizzu has announced a new system designed to ensure that the benefits of the tourism industry reach individual citizens directly.
The President made these remarks this morning whilst delivering the Presidential Address at the first sitting of the first session of the 20th People's Majlis for the year.
The President stated that Maldivian citizens, as the true owners of the nation's natural assets, rightfully deserve a direct and systematic share of the industry's income.
The President said that the Government has decided to develop a minimum of 10 resorts through a State-Owned Enterprise over the next three years.
He said that a significant portion of the profits from these resorts will be deposited equally into the bank accounts of every Maldivian citizen, without exception. These payments will be made annually in foreign currency.
President Muizzu also announced that a new law will be enacted to designate every Maldivian citizen as a shareholder in all resorts developed under this project. He estimated that the benefits of this historic initiative will begin to reach the public by 2030.
