Ministry of Finance Seeks Industry Experts for SOE Reform

The Ministry of Finance has publicly announced its search for industry experts to spearhead a comprehensive reform of State-Owned Enterprises (SOEs) in the Maldives. The announcement, released on Thursday, seeks an International SOE Reform Expert, an Economic Reform Communications Strategist, and a locally-based Associate Social Protection Economist.

These positions are seen as crucial to addressing ongoing challenges within SOEs. The Ministry aims to implement changes to resolve issues within these companies. In collaboration with the World Bank, the Ministry has initiated the “Maldives Competitive and Growth Project” – a five-year initiative designed to address the economic difficulties experienced by SOEs. The project also focuses on supporting small and medium enterprises and boosting private sector participation.

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SOEs are a major force in the Maldives’ economy, collectively employing over 15,000 individuals. However, concerns have grown in recent years regarding excessive expenses, profit losses, deviations from corporate governance policies, and instances of corruption within these enterprises.

The Ministry’s announcement invites interested candidates to submit an Expression of Interest.

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