Maldives President Muizzu announces $400 annual dividend for all citizens from new resort company

President Mohamed Muizzu has announced that the government will establish a company to distribute profits from resort development directly to every Maldivian citizen. Speaking during the session to open the People's Majlis this year, President Muizzu said that at least 10 resorts will be developed through government companies within the next three years, and each Maldivian will receive at least $400 annually from the revenue generated by these resorts. The company, named 'Dhivehi Resort Holding Corporation (DRHC)', is wholly owned by the Maldivian government. The Office of the President outlined additional objectives for the company, including developing and operating international-standard resorts with a focus on environmental protection and renewable energy, creating job opportunities and technical training for Maldivians, and building a robust tourism business ecosystem in collaboration with local and foreign investors. Last December, laws were amended to allow government companies to engage in tourism business activities, enabling islands, land, or lagoons to be released for resort development. The President stated that the purpose of the legal amendments was to deposit the benefits into the account of every Maldivian.