The newly enacted legislation governing the leasing of uninhabited islands and lagoons will generate viable proposals across the agricultural and mariculture sectors and advance efforts to ensure national food security, Ahmed Shiyam, the Minister of Fisheries, Agriculture and Ocean Resources, asserted.
Speaking at the 'Ahaa' public forum, Minister Shiyam expressed grave concern over domestic food vulnerabilities, noting that the Maldives remains compelled to import commodities capable of local cultivation. Expanding agriculture and mariculture represents a primary objective, he argued, noting that durable measures must curb foreign import reliance.
Current initiatives span active projects across 10 inhabited islands, Minister Shiyam explained, noting earlier leasing efforts encountered implementation hurdles. The recently ratified Leasing Uninhabited Islands and Lagoons Act resolves those statutory bottlenecks, clearing a path for fresh capital once governing regulations are published.
"If we wish to achieve import substitution and reduce import volumes, we must create space for investment," Minister Shiyam maintained, observing that retaining departing foreign currency requires targeted concessions to draw substantial commitments. Turning to mariculture, where the government has designated 13 zones, formal evaluations of development proposals remain paused until administrative rules take effect.
"The evaluation of proposals we previously received can only commence once the regulations are finalised," Minister Shiyam stated, targeting early October for enactment. Capital commitments are beginning to materialise, he underscored, noting sustained interventions must safeguard the economy against external supply shocks.