President Abdulla Yameen opened the rebranded “Sun Siyam Iru Fushi” resort at a ceremony on Friday.
Resorts operated under the ‘Sun Travel’ company owned by MP Ahmed Siyam Mohamed have been rebranded ‘Sun Siyam Resorts.’
Speaking at the brand launching ceremony, President Yameen urged youth to follow the example of Siyam’s entrepreneurship, adding that success could be reached through perseverance and discipline.
The president also outlined the government’s goals for developing the tourism industry during his five-year term, which included “developing 50 new resort properties, introducing vertical tourism, positioning Maldives as a vacation home, developing live-aboard marina infrastructure, developing medical tourism with world class facilities, and introducing educational tourism,” according to the President’s Office.
President Yameen announced that a number of resorts would float a portion of their shares to the public by the end of the year, urging resort workers to become shareholders.
The Sun Siyam would be floating up to 40 percent of the group’s shares to their employees in the coming years, Yameen announced.
At the ceremony, Siyam – leader of the Maldives Development Alliance party – presented President Yameen and Toursim Minister Ahmed Adeeb with commemorative plaques, which was followed by an entertainment programme headlined by international artist Nicole Scherzinger.