Unemployment in Maldives - Over 1000 Firms Ended

Monday 16th of December 2019

Unemployment in Maldives - Over 1000 Firms Ended

Last Tuesday, Economic Ministry of Maldives made an announcement regarding the termination in accordance to the law made last month. 2 months ago, the Ministry stated that such a move may be approaching. The Ministry previously stated in October that over 1000 companies were terminated for not paying the required annual registration fees. These businesses were established between 2012 and 2015. The termination of these businesses would lead to many people losing their jobs.