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The president establishes ‘Tradent Maldives Corporation Limited’

by Maaha Naseem
October 14, 2019
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Establishment of the tradenet Maldives Cooperation Limited; Photo-president's office

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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