The Ministry of Fisheries has reduced licensing fees for fishing in the Maldives.

The fee reduction came under the new regulations on marine fisheries.

According to the new regulations, a vessel fishing for skipjack tuna or yellowfin tuna will be charged a yearly fee of MVR 500 if it is less than 15 meters. If it is larger than 15 meters, it will be charged MVR 1,500.

If a vessel is conducting both types of fishing, the fee for a vessel smaller than 15 meters will be charged MVR 500. However, if it is larger than 49 feet, it will be charged MVR 1,800.

Previously, if the vessel was above 85 feet, they were charged MVR 3,600. Vessels smaller than 85 feet were charged MVR 1,800