State enterprise reform

One of the important themes of the Government's Sixth National Development Plan (2001-2005) is to recognize the private sector as the major engine of, and partner for, national economic development, while the public sector's role will be rationalised to be a facilitator of the development process. State-owned enterprises (SOEs) play an important role in the country's economy, given that most large enterprises in the country are in the public sector. Almost all significant sectors of the economy-including fisheries, telecoms, civil aviation, financial services, trading, and power-are currently dominated by SOEs.

The project assisted the Government of Maldives to prepare and implement governance and privatisation of SOEs where markets are contestable and includes restructuring and privatisation of SOEs in three sectors - power, shipping and public works.