The Ministry of Fisheries and Ocean Resources has launched a strategic initiative to lease uninhabited islands, lagoons, and reefs, signaling a significant step toward diversifying the country’s marine industries and enhancing national economic potential.
The comprehensive tender offers a 21-year lease period for selected sites, with potential extensions up to a maximum of 50 years under existing regulations. Interested parties must submit their proposals by 1 p.m. on 6 November, presenting a unique opportunity for investors and aquaculture developers.
Prospective bidders are strongly encouraged to conduct thorough site surveys, though the ministry has clarified that obtaining a formal permit for site visits is mandatory. Importantly, proposals will remain valid even if a physical inspection is not completed, providing flexibility for potential applicants.
The tender represents a significant evolution in the country’s aquaculture policy, stemming from recent amendments to the Aquaculture Regulation introduced in 2020. These updates have substantially broadened the scope of eligible areas, now including lagoons and open ocean territories previously outside the jurisdiction of local island councils.
Under the new regulatory framework, leasing rights are open to a diverse range of entities, including:
• Maldivian individuals
• Sole proprietorships
• Registered foreign investment companies
• Corporate societies
This strategic move reflects a broader national vision to attract private investment in aquaculture, an industry increasingly recognized as critical for multiple national objectives. The initiative aims to address key economic and food security challenges by:
• Ensuring long-term food security
• Expanding export opportunities
• Reducing dependence on traditional capture fisheries
The government’s commitment to marine resource development is further underscored by recent international collaborations. Earlier this month, the Maldives signed a partnership agreement with India’s Department of Fisheries to promote sustainable tuna fisheries and enhance marine resource governance across the region.
By opening these uninhabited islands and marine territories to strategic development, the Maldives is positioning itself as a forward-thinking nation committed to sustainable marine economic growth. The tender represents a significant opportunity for investors and aquaculture experts to contribute to the country’s evolving maritime ecosystem.
