In a move aimed at modernizing and expanding the "Maldivian Seaplane" business, President Dr. Mohamed Muizzu has announced plans for a strategic partnership between Island Aviation Services Limited (IASL) and Maldives Airports Company Limited (MACL). The collaboration is expected to enhance the seaplane services operated by IASL, ensuring long-term growth and sustainability in the industry.
Under the proposal, a joint venture company will be established between IASL and MACL, with IASL maintaining full control of the operation. The President has set a deadline of April 30, 2025, for the formation of the venture, and the necessary decisions will be submitted to the Economic Council for approval. This move follows a Cabinet discussion based on a proposal submitted by the Ministry of Fisheries and Ocean Resources on diversifying the Maldives’ economy.
As part of broader economic diversification, the government also announced plans to designate specific areas as 'Mariculture Development Zones', which will be open to foreign investments. These zones are aimed at encouraging mariculture enterprises, including hatcheries and species-rearing facilities in aquatic environments, to enhance the country's marine resources.
The designated mariculture zones include:
Haa Dhaalu and Shaviyani Atolls
Raa Atoll
Meemu Atoll
Thaa Atoll
Additionally, 73 hectares of land, located approximately 7 km south of the Vaadhoo Strait, will be allocated for commercial-scale reef fish farming. This area will be subject to regulations governing the leasing and use of mariculture zones. The establishment of these zones highlights the government's commitment to fostering marine-based industries and generating new opportunities for economic growth.
Under the proposal, a joint venture company will be established between IASL and MACL, with IASL maintaining full control of the operation. The President has set a deadline of April 30, 2025, for the formation of the venture, and the necessary decisions will be submitted to the Economic Council for approval. This move follows a Cabinet discussion based on a proposal submitted by the Ministry of Fisheries and Ocean Resources on diversifying the Maldives’ economy.
As part of broader economic diversification, the government also announced plans to designate specific areas as 'Mariculture Development Zones', which will be open to foreign investments. These zones are aimed at encouraging mariculture enterprises, including hatcheries and species-rearing facilities in aquatic environments, to enhance the country's marine resources.
The designated mariculture zones include:
Haa Dhaalu and Shaviyani Atolls
Raa Atoll
Meemu Atoll
Thaa Atoll
Additionally, 73 hectares of land, located approximately 7 km south of the Vaadhoo Strait, will be allocated for commercial-scale reef fish farming. This area will be subject to regulations governing the leasing and use of mariculture zones. The establishment of these zones highlights the government's commitment to fostering marine-based industries and generating new opportunities for economic growth.
