The Ministry of Fisheries and Ocean Resources has initiated a public tender for the lease of uninhabited islands, together with their surrounding lagoons and reefs, for aquaculture development, operation, and maintenance. The announcement, issued by the fisheries ministry, forms part of a broader national agenda to modernise marine industries through targeted investment and regulatory reform.
According to the ministry’s announcement, the initial lease term for the designated sites will be 21 years. While extensions may be granted in accordance with applicable legislation, the total lease period shall not exceed 50 years. Interested parties are required to submit proposals by 1 p.m. on 6 November.
The ministry has advised prospective bidders to undertake independent surveys of the proposed islands and isolated lagoons. A formal visit permit must be obtained prior to conducting any such study. However, the ministry has clarified that the absence of a site inspection will not invalidate a bid.
The tender coincides with a recent amendment to the Aquaculture Regulation, originally promulgated in 2020, which governs aquaculture activities within the Maldives’ maritime zones. The revised framework significantly broadens the scope of eligible areas, extending beyond uninhabited islands to include lagoons and open ocean territories not administered by island councils.
Under the updated regulation, leasing rights are now available to Maldivian citizens, sole proprietorships, foreign investment companies registered in the Maldives, and corporate societies.
In a parallel development, the government recently formalised a cooperation agreement with India’s Department of Fisheries, operating under the Ministry of Fisheries, Animal Husbandry and Dairying. The accord is designed to promote sustainable tuna fisheries and reinforce the governance of marine resources across the region.