President Ibrahim Mohamed Solih has established Road Development Corporation Limited in an effort to stabilize the country's transport system.
The 100% state-owned enterprise was formed by the President on Sunday under a presidential decree with a capital of MVR 50 million, the President's Office revealed.
The decree read that the corporation was formed as the President believes a company dedicated to road development was of importance to develop better roads across islands in the Maldives.
The company will also focus on developing links between islands via bridges and highways for easy land transport to and from islands.
While a new state-owned company has been formed by the President, a company named 'Maldives Road Development Corporation' was earlier established by the government to build and maintain roads. However, the government-owned company was dissolved during the administration of former president Abdulla Yameen Abdul Gayyoom.
