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President Solih forms 'Tradenet Maldives Corporation Ltd'

Ahmed Aiham
14 October 2019, MVT 11:42
President Ibrahim Mohamed Solih and the cabinet ministers. PHOTO: PRESIDENT'S OFFICE
Ahmed Aiham
14 October 2019, MVT 11:42

President Ibrahim Mohamed Solih, on Sunday, established the 'Tradenet Maldives Corporation Limited'.

According to the President's Office, the 100 percent state-owned enterprise was formulated as a 'Single Window Operator' for business-related services "under a single roof".

The state company is authorized to press and receive charges, and acquire movable and immovable assets.

In addition, the corporation's mandate states that the fully state-run company has a capital of MVR 50 million.

While the government recently established the new 'Road Development Corporation' specialised in road development and maintenance, President Solih has established a handful of state-run corporations focusing on various sectors since assuming power.

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