The government is advancing a multimillion-dollar expansion of its mariculture sector, positioning it as a cornerstone of the national economy. Five regions have been designated for operations, including Bodu Thiladhunmathi, Raa, Meemu, and Thaa atolls, alongside a lagoon near Maniyafushi in Kaafu Atoll. To attract investment, authorities have introduced incentives that waive acquisition costs and grant a three-year exemption on land rent, measures intended to rival established global mariculture hubs. Early investors have already begun capitalising on these opportunities.
Ahmed Shiyam, Minister of Fisheries and Ocean Resources, confirmed that a USD 19.46 million facility is operational in Maniyafushi, complemented by seaweed cultivation now reaching export stage. He forecast a steady influx of multimillion-dollar projects, underscoring the sector’s potential to deliver significant economic dividends. Supplementary cultivation sites have been identified to expand community-based seaweed farming, reinforcing the government’s vision of mariculture as a reliable source of local income.
Grassroots participation is being supported through the Mariculture Scheme, which finances cage culture systems and aquaculture cages. The programme will fund 200 cages, with loans ranging from USD 5,188 to USD 41,509, offering repayment terms of up to six years and a six-month grace period. This initiative aims to dismantle barriers to entry and accelerate industry expansion.
To sustain growth, the government has launched Marine Hatchery Skills Development programmes in partnership with the Maldives Marine Research Institute, backed by the World Bank. These vocational efforts target youth training, ensuring a skilled workforce capable of managing advanced mariculture operations.