Thoddoo Island Council has registered Alifu Alifu Thoddoo Local Authority Company Limited in accordance with the Local Authority Company regulation.
Minister of Economic Development Fayyaz Ismail handed over the registry to the President of Thoddoo Council Ahmed Karam at a special ceremony. Minister Fayyaz noted the importance of empowering councils to establish local authority companies to catalyse economic opportunities in local communities. He added that it was a mechanism to bear risks to develop sustainable solutions tailor-made for the community’s needs.
Speaking to PSM News, President of Thoddoo Council Karam said the administration of President Ibrahim Mohamed Solih has prioritised empowering local councils. He expressed confidence that allowing local councils to establish companies will result in more growth for local businesses.
Thoddoo Local Authority Company aims to branch out to various businesses including providing dedicated fibre link services, maintaining the museum under development on the island, waste management, management of the port services, maintaining and renovating roads, and development of a nursery, daycare, and pre-school.