Maldives President Dr. Mohamed Muizzu has established a new Government-owned company called ‘Dhiveheenge Resort Hihsaa Corporation (DRHC).
This new company has been made under Presidential Decree No. 19/2026, with it being established pursuant to the powers vested in the President under Section 15 of the Companies Act.
Dhiveheenge Resort Hihsaa Corporation (which roughly translates to ‘Maldivians’ Share in Resorts Corporation’) has been established to “facilitate the sustainable development” of the Maldivian tourism industry. DRHC primarily aims at enhancing economic benefits of the tourism industry are shared equitably among all Maldivian citizens.
The company mandates maximizing the value of the State’s lagoons, uninhabited islands and natural resources. The corporation will also build an investment portfolio with a long-term benefits goal.
DRHC will reportedly develop and operate international-standard resorts and other tourism-related assets. The objectives of this new company include creating employment and technical training opportunities, increasing foreign currency earnings and fostering a competitive tourism business environment.