News Desk
MALÉ, — The government of the Maldives is in the final stages of identifying the islands and lagoons to be developed into state-owned resorts under an ambitious national wealth-sharing scheme, President Dr Mohamed Muizzu announced at a press conference on Monday.
The initiative, first unveiled during the president’s state-of-the-nation address earlier this year, aims to distribute a significant portion of profits from luxury tourism directly to Maldivian citizens. Under the plan, the state expects to construct at least 10 resorts over the next three years through a state-owned enterprise, with annual dividend payments scheduled to begin in 2030.
“This is a very ambitious project,” Dr Muizzu told reporters at the President’s Office, adding that a specialized committee including representatives from the Ministry of Finance has nearly completed its feasibility assessments. “We are identifying the locations that are most viable for this venture. Once the sites are finalized, we will proceed to the next phase through a designated state company. Everything is currently on track.”
The program promises to distribute profits equally among all Maldivian citizens, without exception, via automated annual bank transfers in US dollars. The government estimates that individual payouts will amount to at least $400 per person annually.
To illustrate the intended impact of the scheme, President Muizzu cited the example of an average household. “For instance, in a family of five, every member will become a shareholder in at least 10 resorts. Consequently, that family can expect an annual influx of at least $2,000,” he noted, reiterating his administration’s commitment to swiftly advancing the necessary frameworks.
The scheme also aligns with broader regional development targets. The administration plans to construct these citizen-owned resorts primarily in administrative zones that currently lack a tourism footprint, expanding the industry beyond its traditional geographical hubs.
