Registrar of companies Mariyam Visaam said that businesses can develop successfully by operating efficiently and by managing risk.
Speaking at the opening ceremony of “Corporate liabilities seminar” at Hotel Jen this morning, Visaam said that the President says that the biggest priority of the government is to develop Maldivian businesses to modern businesses and bring an economic change desired by the youth of today. She said that hence, the government is working towards achieving that goal.
Visaam said that business entities are increasing and huge changes are happening to businesses. In addition, she said that with the increase of businesses different business related problems are increasing as well. She said that more and more companies have to take responsibilities for their actions now.
She said that with the changes in the business system, the risks of doing business has increased now. She said that work needs to be done to solve these problems. She further said that the government’s aim is to establish a system which allows businesses to run sustainably. She said that to reach that goal, there are things that needs to be done.
She also revealed some amendments the government has proposed to the company law. She said that she believes that these amendments will allow companies to manage risks, run more efficiently and be able to develop responsibly.
She noted that most problems in Maldives occur because companies try to make huge profits within a short period. She said that companies face bigger risks when they operate this way.