In a move to modernize, expand, and ensure the sustainability of the "Maldivian Seaplane" business operated by Island Aviation Services Limited (IASL), President Dr. Mohamed Muizzu has announced plans to form a strategic partnership between IASL and Maldives Airports Company Limited (MACL). This collaboration is expected to lead to significant growth and development in the country's seaplane services.

The President has set a target for the establishment of a joint venture company, with IASL maintaining full control, by April 30, 2025. This decision will be submitted to the Economic Council for approval. The announcement follows a Cabinet discussion on a proposal from the Ministry of Fisheries and Ocean Resources, presented on September 30, aimed at diversifying the Maldivian economy and maximizing the benefits of its marine resources.

The plan also includes the designation of specific areas for mariculture development, encouraging foreign investments in these zones to promote marine-based industries. The designated zones for mariculture development include HDh. Atoll, Shaviyani Atoll, R Atoll, M Atoll, and Th. Atoll.

Additionally, a 73-hectare area located about 7 km south of the Vaadhoo Strait will be set aside for large-scale reef fish farming. This initiative will involve establishing guidelines for leasing mariculture zones to ensure sustainable and regulated development in the sector.