MACL, Island Aviation joint venture to operate Maldivian seaplane
The president decided to establish a joint venture company with MACL under the complete control of IASL by April 30, 2025.
President Mohamed Muizzu on Monday decided to establish a strategic partnership between Island Aviation Services Limited (IASL) and Maldives Airports Company Limited (MACL) to modernise, further expand and sustain the Maldivian Seaplane business operated by IASL.
The president decided to establish a joint venture company with MACL under the complete control of IASL by April 30, 2025, and to submit the necessary decisions to the economic council.
The decision was taken after the cabinet discussed a paper submitted by the Ministry of Fisheries and Ocean Resources on September 30, to diversify the Maldives’ economy and increase the benefits of marine resources.
Among the decisions taken were the designation of certain zones as mariculture development zones, generally open to foreign investments, for establishing mariculture enterprises in the country, construction of hatcheries and rearing hatchery species in aquatic environments.
The zones designated are:
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Haa Dhaalu and Shaviyani Atolls Mariculture Zone
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Raa Atoll Mariculture Zone
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Meemu Atoll Mariculture Zone
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Thaa Atoll Mariculture Zone
In addition, 73 hectares of land about 7 km south of the Vaadhoo Strait will be designated as an area for commercial-scale reef fish farming. This includes establishing rules to be followed in leasing zones designated for mariculture.
