Outstanding corporate leaders across various industries were honoured at the seventh edition of Corporate Maldives Gold 100 Awards that was held on May 16 at Crossroads Maldives. Prominent figures from the business community, including chairmen, managing directors, CEOs, and key decision-makers, attended the invitation-only ceremony.

Vice President Faisal Naseem graced the ceremony as chief guest. In his speech, the Vice President reaffirmed the administration’s dedication to nurturing private companies. He emphasised the crucial role played by the private sector in fostering economic growth and creating employment opportunities. Furthermore, he emphasised the importance of closer collaboration between the private sector and the administration to advance national development and enhance society. The Vice President also highlighted the significance of embracing innovation, introducing new ideas and enterprises, as means to stimulate economic growth, diversification, and adaptation to the ever-changing global landscape. Additionally, he advised corporate leaders to prioritise the establishment of a resilient workforce, determined to achieve success.

Recognising Leading Businesses

The purpose of the Gold 100 Gala is to recognise the success of the Gold 100 companies. These companies are considered the leading business entities in the Maldives. During the event, the Gold 100 companies were presented with awards to acknowledge their achievements. Additionally, Corporate Maldives publishes a magazine called GOLD 100, featuring the awardees in alphabetical order. It’s important to note that the Gold 100 is not a ranking but rather a selection of outstanding businesses.

Eligibility Criteria

To be eligible for consideration, a business must be a registered corporate entity in the Maldives under the Ministry of Economic Development and the Maldives Inland Revenue Authority. Furthermore, the company should have been established and in business since 1st January 2016. It should not be a re-registered company and must have an annual revenue of more than MVR 30 million. The business should also have no convictions for tax evasion or any ties to human trafficking.

Selection Criteria

The selection criteria for the Gold 100 Awards are based on several factors. Only 10 companies will be considered from 100% foreign-owned companies. Additionally, a maximum of 10 companies will be selected from small-scale industries with revenues between MVR 20 million and MVR 30 million. Companies with 50% or more shareholders in the same industry will not be considered unless they can provide documents to prove that they are operating as separate entities. Furthermore, only 2 companies will be selected from a group of companies with 50% or more similar shareholders.

Evaluation Process

The selection process for the awards evaluates five critical factors: business scale, success measurement, innovativeness, CSR efforts, and compliance with laws. These factors play a significant role in determining which companies will receive the Gold 100 Awards.

Special Recognition

Alongside the prestigious Gold 100 Awards, Corporate Maldives bestowed a distinguished Lifetime Achievement Award to honor visionary business leaders whose exceptional contributions have made a lasting impact on their respective industries. The Vice President, Faisal Naseem, personally presented this esteemed accolade. Furthermore, Corporate Maldives revealed a deserving recipient who has significantly propelled the advancement of the Maldivian business community through a combination of entrepreneurial endeavors and philanthropic initiatives.