Measures to ensure 100 percent of jet revenue enters local companies

Transport Minister Mohamed Ameen states measures will be implemented to ensure 100 percent of the revenue earned from handling private jets arriving in the Maldives goes to companies with local shareholders.

Speaking at a press conference held at the President’s Office on Tuesday, Minister Ameen underscored that Maldives sees the arrival of a large number of jets while jet handling remains a huge business. However, he stressed that a large share of the revenue earned from the business enters into companies incepted under the name of Maldivians with foreign shareholders.

On the contrary, the Minister said President Dr. Mohaned Muizzu aims to ensure Maldivian citizens receive the full benefit of revenue earned on Maldivian soil.

“The government aims to ensure companies benefiting off [jet services] are 100 percent Maldivian companies,” he said.

“We will implement very comprehensive reforms at the start of the new year and in this trajectory, announce the amendments that are being made to regulations,” he added.

Minister Ameen urged Maldivians involved in the business of jet handling to ensure revenue earned from the sector benefits Maldivians instead of foreign parties.

“Our government will probe this and conduct audits to ensure changes to local companies that have been incepted in a manner that profits foreigners,” he stressed.

Maldives mostly see jet arrivals at the end of the year which marks the peak tourism season.