President Dr. Mohamed Muizzu has stated that the government will establish all citizens as shareholders of 10 resorts being developed, and the profits from these properties will be deposited in dollars into each person’s account.

Under this new policy announced in today’s presidential address, at least 10 resorts will be developed over the next three years through a government company. Through a special law, every Maldivian citizen will be established as an equal shareholder in these resorts, the President stated.

Highlighting that this marks the first time citizens will have direct participation in the country’s tourism industry, the President said that anyone with a Maldivian ID card will benefit. He also stated that the profits will be distributed directly to citizens’ bank accounts in foreign currency, ensuring no one is left out.

Citizens are expected to start receiving profits from this project beginning in 2030. According to the President, it is estimated that each citizen will receive at least $400 annually. Therefore, for a family of five, this would amount to $2,000 per year, and he stated that work will proceed steadily to make this a reality.