The government is spearheading extensive efforts to expand the mariculture industry in the Maldives. As part of this initiative, five key zones have been designated for development, including the Boduthiladhunmathi region, Raa Atoll, Meemu Atoll, Thaa Atoll, and K. Maniyafushi. To incentivize investors, the government has introduced significant concessions, such as the waiving of acquisition costs and a three-year exemption on land rent. Currently, a project valued at MVR 300 million is already underway in Maniyafushi.
Furthermore, efforts to cultivate and export seaweed have commenced. To support local entrepreneurs, a ‘Mariculture Scheme’ has been launched, providing financial assistance ranging from MVR 80,000 to MVR 640,000 for the procurement of sea cages. In tandem with these developments, the government is also conducting specialized training programs aimed at building a skilled local workforce and empowering youth within this sector.
