President Muizzu Approves Bill for State-Owned Companies to Develop Tourist Resorts

President Dr Mohamed Muizzu has ratified a bill allowing state-owned companies (SOEs) to be allocated islands and land for tourist resort development. The bill, passed in the 28th session of Parliament, aims to lease premises to SOEs for constructing tourist resorts, training facilities, and other tourism-related infrastructure. It also allows the allocation of resources for integrated resorts and yacht ports. The law extends lease periods, sets tourism service procedures, and permits guesthouses and hotels within residential areas. The amendment empowers the President to allocate land for resort development, even in areas under local council jurisdiction.