President Muizzu Establishes Dhivehi Resort Holding Corporation to Share Tourism Profits with All Citizens

President Dr. Mohamed Muizzu has established a new state-owned company, the Dhivehi Resort Holding Corporation (DRHC), through Presidential Decree No. 2026/19. The company, created under the Companies Act (Law No. 2023/7), is tasked with developing and operating international-standard resorts and tourism resources, with a focus on environmental conservation and renewable energy. The initiative aims to ensure that the economic benefits of the tourism industry are distributed equally to every Maldivian citizen in foreign currency, a promise the President made during his 2026 Presidential Statement to the People's Majlis. The President stated that the government will develop at least 10 resorts within the next three years through the company, with the majority of profits deposited annually into the bank accounts of every citizen. He also revealed plans to designate every Maldivian citizen as a shareholder of all resorts developed under the project through legislation.