On 9 October 2025 Tradenet Maldives Corporation Limited, the government’s digital and innovation arm, convened its Annual General Meeting of 2024 at the company’s head office. Representatives from the Ministry of Finance and Planning, the Auditor General’s Office and the Privatisation and Corporatisation Board joined the Board of Directors and senior management to review performance for 2024 and set priorities for the period ahead in line with the Government’s Maldives 2.0 Digital Transformation Vision and Roadmap. All AGM materials were circulated in advance and published on the website in accordance with the PCB Corporate Governance Code.

Governance in review

Chairperson Siyah Khaleel characterised 2024 as a year of disciplined repair and institutional strengthening. Three years of pending financial statements were audited and published. Long-standing tax obligations were settled. Six internal audits were completed and implementation of the findings is underway.

To tighten control and consistency, Tradenet adopted 16 policies and 12 standard operating procedures, digitised core administration with an online HR management system, and improved procurement and records management. The Chairperson thanked teams across the company for their work around the Maldives 2.0 Summit, calling it a visible demonstration of Tradenet’s growing role.

Financial review and AGM approvals

Shareholders reviewed and approved the Audited Financial Statements for 2024. Given the year’s financial pressures and the timing of platform revenues, a nil dividend for 2024 was approved to prioritise reinvestment in delivery and stability.

The Annual Report 2024 records governance reforms, product progress and preparatory work completed for the 2025 launches of oneGov 2.0 and Tradian Phase 1.

To reflect the company’s expanded responsibilities under Maldives 2.0, shareholders approved amendments to the Memorandum of Association. In accordance with the Maldives Audit Act, the Auditor General’s Office was appointed External Auditor for the 2025 financial year.

Product milestones

• oneGov

The national service gateway expanded to eight additional institutions in 2024. Drawing on user research and agency feedback, oneGov 2.0 launched in 2025, improving usability, accessibility and day-to-day operations for citizens and public bodies. Work continues on clearer content, bilingual access and smoother agency workflows.

• Tradian

The National Single Window for trade reached its first operational milestone in 2025, with Phase 1 services live from 21 September 2025 after readiness and integration work with partner agencies. The platform has stabilised, and coordination is underway with authorities to activate fee collection before year-end 2025, establishing a pathway to recurring service revenue.

• GovStack

To accelerate consistent digital service delivery, Tradenet is adopting GovStack building blocks where appropriate. Reusable components will standardise core capabilities and improve the speed and quality of rollouts on oneGov and related services, aligned with national policy and governance frameworks.

• Future Institute

Tradenet’s skills and capability arm has been formally registered as Future Institute, fulfilling a commitment made at the previous AGM. Future Institute will deliver digital skills programmes with government partners and local communities to help build a future-ready workforce that sustains service delivery and product evolution.

Managing Director’s remarks

Managing Director Saeeda Umar thanked the Board and the management team for sustained delivery through a difficult year. She acknowledged that limited financial backing constrained execution capacity, even as government expectations for oneGov and Tradian were met.

“Our team has remained steadfast,” she said. “But the financial constraints have limited our ability to grow as a state-owned enterprise and to serve the communities that depend on us.”

She requested shareholder support for the next phase, noting that Tradenet has the potential to become a profit-generating state-owned enterprise with the right structural and financial backing. She underlined the organisation’s frugal operating stance, with the majority of expenditure in payroll because the work relies on highly skilled professionals in digital development and service design. “Our cost base represents human capital, not inefficiency,” she said.

Mandate under Maldives 2.0

Tradenet now operates with a clarified national role as the government’s digital and innovation arm under Maldives 2.0, with direct responsibility for Pillar 6: citizen-centric and business-friendly digital public services.

Under this remit, the company is driving the phased onboarding of central and local government transactional services to oneGov on a defined roadmap and enhancing oneGov as the unified gateway for public services through monitoring and reporting, a searchable service catalogue, bilingual and accessibility features, consent and data-use transparency tools, mailbox communications and targeted AI-assisted improvements aligned with policy. In parallel, Tradenet is expanding Tradian across trade-related services, adopting GovStack building blocks for faster, consistent delivery, and mobilising Future Institute to strengthen capabilities and digital skills across the ecosystem. The focus is innovation, service quality and measurable public value.

Outlook and closing

With oneGov 2.0 launched in 2025, Tradian Phase 1 live from 21 September 2025, GovStack building blocks being adopted for faster and more consistent delivery, and Future Institute mobilising capability, Tradenet’s focus now is on disciplined execution. Priorities include sustained onboarding and service quality on oneGov, activating and scaling Tradian revenue features, capability building through Future Institute, and continued governance improvements with a controlled cost base.

Tradenet thanks its shareholder proxy, the Ministry of Finance and Planning, as well as the Auditor General’s Office and the Privatisation and Corporatisation Board for their continued oversight and collaboration. The company also recognises the commitment of its staff and partners across 2024 and 2025, including the preparation and delivery work showcased at the Maldives 2.0 Summit and improvement in governance.

As the government’s digital and innovation arm, Tradenet moves forward with a clear mandate and product milestones in place. The company remains committed to transparent operations, responsible leadership and measurable public value for citizens, businesses and the State.