The Civil Aviation Authority has developed a new regulation to increase Maldivian participation in the air transport business. This regulation has now been gazetted. The Ministry of Transport and Civil Aviation stated that this new regulation is an additional boost to the government’s efforts to increase national productivity in the air transport sector and empower Maldivian businesses.
Under this regulation, only 100% Maldivian companies will be permitted to operate as General Sales Agents (GSA), Passenger Sales Agents (PSA), and Cargo Sales Agents (CSA). Previously, the regulation allowed foreign companies with 49% foreign shareholding to conduct such businesses in the Maldives.
Minister of Transport and Civil Aviation, Mohamed Ameen, said that this amendment was made with the advice of President Dr. Mohamed Muizzu. He added that this is a change that Maldivian businesses have been requesting for many years to promote and further strengthen their businesses. The Ministry of Transport stated that this newly formulated regulation will play a crucial role in retaining the financial benefits from the air transport and transport sector within the Maldivian economy.
The ministry has stated that while prioritizing Maldivian ownership and opening wide doors for local entrepreneurs, the government is working to establish a fair competitive environment and enhance the capabilities of Maldivian companies.
