Fisheries and Ocean Resources Minister Ahmed Shiyam has announced that investment opportunities in the mariculture industry will officially open by the end of next month.
Speaking to state media, Minister Shiyam said the government is prioritizing the development of mariculture as a separate industry and is actively working to create an investor-friendly environment for foreign participation in the Maldives.
Highlighting that the country's mariculture industry is still in its early stages, the Minister said the goal is to expand the sector and reduce the Maldives’ reliance on imported seafood.
“Hopefully, this opportunity will be opened by the end of next month. We intend to dedicate three months to foreign investments and find investments that will benefit the Maldives,” he said.
Minister Shiyam also revealed that regulations and guidelines for mariculture zones have been formulated and gazetted. He noted that the Maldives is offering more favorable terms to foreign investors compared to leading mariculture nations.
These incentives include the designation of special zones for mariculture, deductions in acquisition costs, and exemption from land rent for three years.
Speaking to state media, Minister Shiyam said the government is prioritizing the development of mariculture as a separate industry and is actively working to create an investor-friendly environment for foreign participation in the Maldives.
Highlighting that the country's mariculture industry is still in its early stages, the Minister said the goal is to expand the sector and reduce the Maldives’ reliance on imported seafood.
“Hopefully, this opportunity will be opened by the end of next month. We intend to dedicate three months to foreign investments and find investments that will benefit the Maldives,” he said.
Minister Shiyam also revealed that regulations and guidelines for mariculture zones have been formulated and gazetted. He noted that the Maldives is offering more favorable terms to foreign investors compared to leading mariculture nations.
These incentives include the designation of special zones for mariculture, deductions in acquisition costs, and exemption from land rent for three years.
