Maldives’ mariculture industry will be opened for investment next month, Minister of Fisheries and Ocean Resources Ahmed Shiyam has said.
The government aims to position the Maldives as a major player in the regional mariculture sector.
Four regions have been identified by the government for the development of the mariculture industry within the Maldives.
The designated areas are Boduthiladhunmathi, which includes Haa Alifu and Haa Dhaalu Atolls, as well as Raa Atoll, Meemu Atoll, and Thaa Atoll. Additionally, a lagoon approximately 2 km from Maniyafushi has been allocated for mariculture.
In an exclusive interview with PSM News, Minister Shiyam pointed out that the government has introduced significant incentives to attract foreign investment.
Land acquisition fees will be waived for plots within the four designated areas, and no land rent will be charged for the first three years, he said, adding that duty exemptions will be granted for the import of essential equipment.
"Now we are preparing to open up for investors. The bid document has been prepared and we intend to open it at the end of next month. We will hopefully dedicate three months to seek out the best foreign investments," he explained.
According to the Minister, the guidelines for mariculture zones have already been drawn up along with the relevant regulations which have now been gazetted.
Minister Shiyam admitted that the mariculture industry in Maldives is in its infancy, but said the government's aim is to expand the industry and reduce the amount of seafood imported into the country.