Maldives has officially inaugurated its first seaweed cultivation project, marking a significant step towards expanding the country's mariculture industry.

The project, launched on April 20 by the Minister of Fisheries and Ocean Resources, Ahmed Shiyam, in Baa Fehendhoo, is led by the private company Floating Acers.

This project follows a comprehensive study by FAO, which investigated the potential for seaweed farming in the Maldives. The FAO's report confirmed that seaweed, locally known as Moodhu Vina, can be successfully cultivated in the country's waters. Encouraged by these findings, Floating Acers has proceeded with the launch of the project.

The initiative is part of broader efforts to utilise ocean resources for economic development. The project aims to create new employment opportunities, particularly for youth and women in the islands, while also introducing modern technologies and expanding the country's export income. Floating Acers' focus is to make mariculture a viable and profitable industry for local communities, thereby diversifying the nation's economy.

As a key part of President Dr Mohamed Muizzu's policy to promote the sustainable use of ocean resources, this policy seeks to reduce the country's dependence on traditional industries like tourism and establish new, sustainable industries that can drive long-term economic growth.

In addition to its economic potential, the project is also seen as an environmentally sustainable alternative to traditional agriculture. Seaweed farming has a minimal ecological footprint, offering a way to balance economic development with environmental preservation.