President Dr Mohamed Muizzu has announced the establishment of a strategic partnership between Island Aviation Services Limited (IASL) and Maldives Airports Company Limited (MACL). This joint venture aims to enhance the growth and development of seaplane services across the nation.
The President has directed that a joint venture company be established with MACL, to be fully controlled by IASL by 30 April 2025. The necessary decisions are to be submitted to the Economic Council for approval. This initiative follows a Cabinet discussion on 30 September, based on a paper submitted by the Ministry of Fisheries and Ocean Resources, focusing on diversifying the Maldives’ economy and maximising the benefits of marine resources.
Among the approved measures is the designation of specific zones as mariculture development areas, generally open to foreign investment. These zones are intended for establishing mariculture enterprises, constructing hatcheries, and rearing hatchery species in aquatic environments. The designated zones are:
• Haa Dhaalu and Shaviyani Atolls Mariculture Zone
• Raa Atoll Mariculture Zone
• Meemu Atoll Mariculture Zone
• Thaa Atoll Mariculture Zone
In addition, an area covering 73 hectares, approximately 7 kilometres south of the Vaadhoo Strait, will be designated for commercial-scale reef fish farming. This includes establishing regulations for leasing mariculture zones.
These initiatives aim to diversify the economy, promote sustainable use of marine resources, and attract foreign investment into the mariculture sector. The strategic partnership between IASL and MACL is expected to play a key role in achieving these objectives, contributing to the overall development of the Maldives.
