State Trading Organisation aims to produce 1000 jobs in 3 years

The Managing Director of the State Trading Organization (STO) Adam Azim has said that the company will produce 1000 jobs within the next 3 years.

Adam Azim said that the company is looking to establish a capable work force across the Maldives, reported local media Sun Online.

“A thousand jobs will be produced with the health sector pharmacies and hypermarkets that we plan to establish,” he added.

The company has plans to invest in the development of its staff with training and education opportunities for the next four years, Azim told Sun.

“We will invest in education, regardless of the cost,” Azim said.

The state-owned STO is the country’s primary wholesaler, responsible for bringing in the vast majority of basic foodstuffs, as well as investing in oil and the tourism industry.

The company was announced bankrupt by President Yameen in November 2013, following which the companylaunched a campaign to cut operational costs by MVR50 million in 2014 (US$ 3,242,542).

More recently, in March 2014, the STO told local media that a five-star hotel it is building in Hulhumalé will be fully completed by January 2015.

STO has also announced on April 6 2014 that they will be placing three additional oil storage tanks in Kafu Fuadhoo, in a bid to increase the oil capacity.