To modernize and expand the "Maldivian Seaplane" business operated by Island Aviation Services Limited (IASL), President Dr. Mohamed Muizzu has announced the establishment of a strategic partnership with Maldives Airports Company Limited (MACL). This collaboration aims to foster significant growth and development in seaplane services.
The President plans to form a joint venture company with MACL, which will be fully controlled by IASL, by April 30, 2025. This decision will be presented to the Economic Council following a Cabinet discussion of a paper from the Ministry of Fisheries and Ocean Resources on September 30, focusing on diversifying the Maldivian economy and maximizing marine resources.
Additionally, the Cabinet designated specific zones as maricultural development areas, open to foreign investment for establishing maricultural enterprises.
The designated zones include:
- Haa Dhaalu and Shaviyani Atolls Maricultural Zone
- Raa Atoll Maricultural Zone
- Meemu Atoll Maricultural Zone
- Thaa Atoll Maricultural Zone
Furthermore, 73 hectares of land approximately 7 km south of the Vaadhoo Strait will be allocated for commercial-scale reef fish farming, along with the establishment of guidelines for leasing maricultural zones.