A new state-owned enterprise (SOE), Infrastructure Development Solution Company Limited, has been established by President Dr Mohamed Muizzu to spearhead urban and rural development projects across the Maldives.

Formed under Presidential Decree No. 14/2025 in accordance with Article 15 of the Companies Act (Law No. 7/2023), the company's incorporation was officially published in the Government Gazette on Friday.

The company will focus on infrastructure-related activities such as construction, casting, and other specialised works, employing modern technology to support the administration’s broader economic and development agenda.

With an authorised capital of MVR 100 million, divided into 10 million shares at MVR 10 each, the company will function as an independent legal entity, capable of entering contracts, holding a corporate seal, and engaging in legal proceedings in its own name.