President Dr Mohamed Muizzu has reaffirmed his commitment to revitalising the boat building industry, announcing a comprehensive support package aimed at ensuring Maldivians have the opportunity to thrive in this traditional sector.

Speaking to residents of R. Innamaadhoo, the President identified financing as the industry's primary challenge. In response, he announced plans to restructure the banking system to provide collateral-free loans, making financing more accessible to local craftsmen.

Addressing workforce development, the President announced plans to establish a dedicated training centre in Innamaadhoo. This initiative aims to develop local talent and ensure the sustainability of traditional boat-building skills, reflecting the Administration's commitment to maintaining this sector's Maldivian heritage.

The President also tackled the issue of workspace availability, acknowledging that short-term land leases have hindered investment in the sector. To strengthen investor confidence, island councils will be empowered to offer 20-year land leases for boat-building activities, a policy that will be implemented nationwide.

These initiatives align with the Administration's broader economic policy of strengthening traditional industries and developing local expertise. The President emphasised that these measures would be implemented systematically, ensuring the sector's growth while preserving its cultural significance.

Alongside these industry-specific measures, President Dr Muizzu outlined plans for broader community development, including new sports facilities, coastal protection measures, and improvements to the sewerage system. He committed to implementing these changes within a two-year timeframe.