The government has announced plans to develop mariculture businesses by establishing hatcheries in four designated zones and allocating a large area for commercial reef fish farming.

The President's Office revealed that during a Cabinet meeting on Monday, the decision was made to further diversify the economy and boost profits from marine resources. The decision followed a proposal submitted by the Ministry of Fisheries.

The government plans to promote foreign investments to enhance hatchery production in sea environments, with four zones earmarked for mariculture development:

  • Haa Dhaalu and Shaviyani Atolls Mariculture Zone
  • North Maalhosmadulu Atoll Mariculture Zone
  • Mulakatholhu Atoll Mariculture Zone
  • Thaa Atoll Mariculture Zone

Additionally, a 73-hectare reef area, located about seven kilometers south of Male' Atoll near Vaadhoo Sea, will be designated for commercial-scale reef fish farming.

The government will also introduce guidelines for leasing mariculture zones to ensure proper management and development of these areas.