The Waste Management Corporation Limited (WAMCO) has dismissed speculation that it is venturing into local tourism, stating that its focus remains on strengthening waste management services while working with the private sector to diversify revenue streams.
Rumours circulating on social media suggested the company was looking to acquire land from islands in exchange for waste management services. In a statement, WAMCO called such reports misleading and clarified that it is not seeking to enter the tourism sector.
The company explained that as waste management services across the country are heavily subsidised, efforts are underway to identify new income sources to reduce dependence on State funds. With small island populations often making waste management centres unprofitable, WAMCO said it is working with island councils and local businesses to explore additional revenue measures.
WAMCO stressed that these initiatives will remain aligned with the government’s broader policy of protecting and empowering local businesses. As an example, the company pointed to its recent announcement of three projects: the development of uninhabited islands in Himmafushi and Lhohifushi in Kaafu Atoll, as well as a waste recycling initiative. All three are structured as joint ventures open to businesses registered in the Maldives.
In its statement, WAMCO also urged media outlets to exercise caution and responsibility when reporting on unverified claims, particularly those circulated on social media.
