The Maldives is preparing to export its first batch of commercially cultivated seaweed, marking a pivotal moment in the island nation’s efforts to diversify its economy and operationalise its ‘Blue Economy’ strategy. The development reflects a significant policy shift under President Dr Mohamed Muizzu, whose administration has prioritised the sustainable utilisation of the country’s expansive marine resources.
The initiative was led by the private firm Floating Acres, which began commercial-scale cultivation on 20 April in Fehendhoo, Baa Atoll. The company has now readied its first stock for export, signalling a new phase in the Maldives’ approach to mariculture.
Minister of Fisheries and Ocean Resources Ahmed Shiyam commended the achievement, describing it as a tangible step towards realising President Muizzu’s economic agenda.
“This remarkable achievement marks an important milestone in realising the vision of H.E. President Dr. @Muizzu [Mohamed Muizzu] to diversify our blue economy and promote sustainable marine industries,” Minister Shiyam wrote in a post on X. He also expressed hope for continued success in sustainably generating profit from the ocean.
The launch of the export operation was made possible by regulatory reforms introduced by the administration of President Muizzu. These changes reversed longstanding restrictions on mariculture, enabling Floating Acres to proceed with commercial cultivation after years of denied authorisation.
Prior to the policy shift, the company had conducted research into seaweed farming and sought approval to advance the project. Although an earlier experimental initiative had concluded that seaweed cultivation was viable in the Maldives, no previous administration had granted commercial permission. The current government’s favourable mariculture policy provided the necessary framework.
The Maldives’ entry into the seaweed sector coincides with rapid global expansion in the industry. The international seaweed market was valued at USD 17.14 billion in 2023 and is projected to double by 2032. Asia remains the dominant producer, accounting for 98 percent of global supply, with major contributions from China, Indonesia, South Korea and the Philippines.
For a nation comprised of 99 percent ocean, the strategic implications of mariculture are considerable. Seaweed farming is expected to generate employment, increase export revenues and stimulate development across fisheries-related sectors.