President Muizzu Establishes State Pharmaceutical and Medical Supply Corporation

President Dr. Mohamed Muizzu has announced the establishment of a new state-owned enterprise, the State Pharmaceutical and Medical Supply Corporation Limited, to bolster the country’s capacity in sourcing and distributing medical supplies.

The formation of this company is authorized under Section 15 of the Companies Act (Act No. 7/2023). It will operate as a wholly government-owned entity, with the Government of the Maldives holding 100% of its shares.

The corporation’s core mandate is to strengthen the procurement and supply chain of medicines, medical consumables, and equipment across the Maldives. It is expected to improve the efficiency, affordability, and accessibility of essential medical items nationwide—particularly for remote islands where logistical challenges have often delayed healthcare delivery.

The establishment of this entity aligns with President Muizzu’s broader healthcare reform agenda, which emphasizes improving service delivery and reducing dependency on external suppliers by streamlining procurement under a centralized, accountable framework.