President Ibrahim Mohamed Solih, on Sunday, established the ‘Tradenet Maldives Corporation Limited’.
According to the President’s Office, Tradenet Maldives Corporation Limited has been established with a hundred percent government shares. It was formulated as a ‘Single Window Operator’ for business-related services “under a single roof”.
Furthermore, 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 and the company’s equity is MVR 150,000 divided over 15 million shares of MVR 10 each.
Tradenet Maldives Corporation is a separate independent entity empowered to press and receive charges in its own name and acquire movable and non-movable goods as stipulated in the law.
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