New Island Leasing Law to Boost Local Food Security and Reduce Imports

The Maldives is set to accelerate its agricultural and mariculture sectors through a new legal framework governing the leasing of uninhabited islands and lagoons. Minister of Fisheries, Agriculture and Ocean Resources, Ahmed Shiyam, stated that the legislation will attract viable investment proposals and strengthen national food security. Speaking at the 'Ahaa' public forum, Minister Shiyam highlighted the Maldives' dangerous reliance on imported commodities that could be cultivated locally. He argued that expanding domestic production is a primary objective to curb foreign import reliance and protect the economy from external supply shocks. While the government currently manages active projects across 10 inhabited islands, previous leasing efforts were hampered by statutory bottlenecks. The recently ratified Leasing Uninhabited Islands and Lagoons Act is designed to resolve these legal hurdles, clearing the way for fresh capital once the governing regulations are officially published. Minister Shiyam emphasized that creating space for investment is essential for import substitution. He noted that attracting substantial commitments through targeted concessions is a critical strategy for retaining foreign currency within the local economy. In the mariculture sector, the government has already designated 13 specific zones for development. However, the formal evaluation of existing proposals remains paused until the accompanying administrative rules take effect. The Minister indicated that these regulations are expected to be finalized and enacted by early October. With capital commitments already beginning to materialize, the government aims to transform uninhabited islands into productive hubs for farming and aquaculture, reducing the nation's vulnerability to global market fluctuations and ensuring a more sustainable food supply for the population.