President Dr. Mohamed Muizzu has decided to establish a joint venture between Island Aviation Services and the Maldives Airports Company Limited (MACL) to modernize and expand Island Aviation’s seaplane operations. This decision follows discussions during a cabinet meeting regarding a proposal from the Finance Ministry.

The President’s Office stated that this partnership is expected to drive significant growth and development for seaplane services, with plans to have the joint venture fully operational under the control of Island Aviation Services by April 30, 2025. The necessary decisions will be submitted to the Economic Council for approval.

Additionally, during the cabinet meeting, the Fisheries Ministry presented a paper aimed at diversifying the Maldives’ economy through marine resource utilization. As a result, specific zones have been designated for mariculture development, which will welcome foreign investments for establishing marine enterprises, including hatcheries.

The designated mariculture zones are:

- Haa Dhaalu and Shaviyani Atolls

- Raa Atoll

- Meemu Atoll

- Thaa Atoll

Furthermore, a 73-hectare area south of the Vaadhoo Strait will be allocated for commercial-scale reef fish farming, accompanied by regulations for leasing mariculture zones. This initiative aims to enhance the sustainable use of marine resources while boosting the economy.