By President His Excellency Dr. Mohamed Muizzu has chosen to form a strategic collaboration between Island Aviation Services Limited (IASL) and Maldives Airports Company Limited (MACL) in order to modernize, grow, and maintain the “Maldivian Seaplane” industry. The seaplane services offered by this joint venture could see substantial growth and progression as a result of this relationship.
By April 30, 2025, the President intends to form a joint venture business with MACL, fully controlled by IASL, and forward the relevant decisions to the Economic Council. The decision was made in response to a report that the Ministry of Fisheries and Ocean Resources had presented on September 30 in an effort to diversify the Maldives’ economy and maximize the advantages of its marine resources.
A number of decisions were made, including designating specific areas as mariculture growth areas, which are often accessible to foreign expenditure, in order to launch mariculture businesses within the nation, build hatching facilities, and raise the hatchery operates species in aquatic habitats.
The specified zones are:
- Haa Dhaalu and Shaviyani Atolls Mariculture Zone
- Raa Atoll Mariculture Zone
- Meemu Atoll Mariculture Zone
- Thaa Atoll Mariculture Zone
Additionally, 73 hectares of land located approximately 7 km south of the Vaadhoo Strait will be set aside for the purpose of growing reef fish on a commercial scale. This involves creating guidelines to be adhered to in leasing areas set aside for mariculture.