Parliament has passed the Government’s Company Bill, aimed at revamping the business landscape of Maldives.
The bill, which succeeds the previous Companies Act, includes key provisions concerning the formation, registration, and dissolution of companies. It aims to remove obstacles hindering economic growth and includes provisions for investment targeted at economic purposes, and aligns with practices in leading economies.
Despite an initial delay due to insufficient quorum, the bill was passed today with 53 votes in favour and one against. This move marks a vital step in attracting and maintaining investor interest, as noted by the Ministry of Economic Development and Trade earlier.