Maldives Appoints New Head of Privatization and Corporatization Board

In a significant move, the President of the Maldives, Dr. Mohamed Muizzu, has appointed Mohamed Anas as the new President of the Privatisation and Corporatisation Board (PCB), effective immediately. This appointment comes on the heels of the dismissal of the previous PCB President, Hamdhy Ageel, on February 13th, though the government has not provided an explanation for his removal.

Anas brings a wealth of experience to his new role, having previously served as the Deputy Minister at the Ministry of Finance and Planning. He also held positions as an Audit Manager at the Housing Development Corporation (HDC) and as an Associate Professor at the Maldives Business School. Anas holds a Master of Business Administration from the Maldives National University (MNU) and a degree in accounting from the University of Hertfordshire, making him well-equipped to lead the country’s privatization and corporatization efforts.

The Privatisation, Corporatisation, Monitoring, and Evaluation of Government Businesses Act (Law No. 3/2013) grants the President the authority to appoint the PCB President, and Anas’s selection was made under this legal framework. The PCB is responsible for overseeing the privatization and corporatization of government-owned businesses, a critical component of the Maldives’ economic development strategy.

“This appointment underscores the government’s commitment to driving economic growth and efficiency through strategic privatization initiatives,” said Dr. Muizzu. “Mohamed Anas’s extensive experience in finance, auditing, and academia make him the ideal candidate to lead the PCB and ensure the successful implementation of these programs.”

The Maldives, known for its picturesque islands and thriving tourism industry, has been actively pursuing economic diversification in recent years. The establishment of the PCB and the appointment of a new president are seen as important steps in this process, as the country looks to optimize the management and performance of its state-owned enterprises.

With Anas at the helm, the Maldives can expect to see increased transparency, efficiency, and accountability in the privatization and corporatization of its government businesses, ultimately driving economic growth and strengthening the country’s position as a leading international destination.