President Dr Mohamed Muizzu has established a Government-owned company, Dhiveheenge Resort Hihsaa Corporation (DRHC), under Presidential Decree No. 19/2026. The company was established pursuant to the powers vested in the President under Section 15 of the Companies Act (Act No. 7/2023).
DRHC was established to facilitate the sustainable development of the Maldives’ tourism industry and ensure that its economic benefits are shared equitably among all Maldivian citizens. Its mandate includes maximising the value of the State’s lagoons, uninhabited islands and natural resources, while building an investment portfolio that generates long-term benefits for the State and future generations.
Wholly owned by the Government, DRHC will develop and operate international-standard resorts and other tourism-related assets, with an emphasis on environmental protection and renewable energy. Its objectives also include creating employment and technical training opportunities for Maldivians, increasing foreign currency earnings for the national economy, and fostering a competitive tourism business environment through partnerships with domestic and international investors.
President Dr Muizzu first announced the initiative during his 2026 Presidential Address, outlining the Government’s plans to ensure that the benefits generated by the tourism industry reach individual citizens directly.
Under the initiative, the Government plans to develop at least 10 resorts over the next three years. The President announced that a substantial portion of the profits generated by these resorts would be deposited annually, in foreign currency, into the bank accounts of every Maldivian citizen to ensure an equitable distribution of the benefits.
He also announced plans to introduce legislation to make every Maldivian citizen a shareholder in all resorts developed under the initiative.
