Meeruma, August 28, 2023 – In a landmark event held at Meeruma on August 24, 2023, the Privatization and Corporatization Board (PCB) introduced its Strategic Action Plan (SAP) for the years 2024 to 2028. This visionary initiative is set to revolutionize the State Owned Enterprise (SOE) sector, bolstering its resilience and adaptability in the face of dynamic business and operational challenges.

The event, held with great anticipation, featured prominent figures from the public and corporate sectors. The distinguished Chief Guest of the event the Auditor General of Maldives Mr. Hussain Niyaazee. During his address, Niyaazee underscored the transformative potential of the strategic action plan, expressing confidence that it would undoubtedly elevate the quality of PCB's operations. He emphasized the crucial role of the SAP in steering SOEs towards their governance objectives and stressed the collaborative nature of this journey, urging all stakeholders to provide unwavering support to realize the SAP's targets.

President of PCB, Asim Mohamed, highlighted the paramount significance the SAP places on strengthening State Owned Enterprises. He went on to elaborate that the SAP's focal point is to enhance the governance structures of SOEs, thus ensuring their ability to align with contemporary demands and navigate challenges seamlessly. The SAP revolves around five strategic priorities. These pillars are set to guide the path of the State Owned Enterprises under PCB's jurisdiction:

• LEGAL FRAMEWORK AND COMPLIANCE,
• ORGANIZATIONAL REFORM AND TRANSFORMATION,
• MONITORING AND EVALUATION,
• GOVERNANCE AND ACCOUNTABILITY,
• PRIVATIZATION AND CORPORATIZATION.

A highlight of the event was the simultaneous launch of the PCB Website and the SOE Gateway. The PCB Website is designed to serve as a comprehensive resource hub, featuring a Whistleblower section that empowers the public to anonymously report issues related to SOEs. This transparency initiative aims to combat unethical practices by providing a secure platform for concerned citizens.

The website offers a wealth of information ranging from general details about PCB board members to an array of resources including publications, blogs, news updates, and downloads (which includes materials such as regulations, policies, circulars, forms, and kits). The interactive platform will evolve over time to ensure it remains a relevant and user-friendly tool.

Another significant introduction is the SOE Gateway, a centralized platform where the public can access a trove of information pertaining to all State Owned Enterprises in Maldives. From financial information to information on board members, Company share details, AOA, MOA, and etc, the gateway promises to provide transparent insights into the functioning of these enterprises.

Vice President of PCB, Mohamed Firaz affirmed that both the website and SOE Gateway are currently in their initial phases and will continue to develop and expand in the future to cater to the evolving needs.

The unveiling of PCB's Strategic Action Plan and the launch of these digital platforms mark a key stage in the evolution of State Owned Enterprises in Maldives. With these ambitious endeavors, PCB is not only setting a new standard for transparency and governance but also paving the way for a more resilient and progressive SOE sector in the years ahead.