The Fisheries Ministry expresses its desire to expand the seaweed export business initiated in the Maldives last year to a level that produces revenue on par with or exceeding that of the nation’s largest export – skipjack tuna.

In April 2025, Floating Acres, a private mariculture company, initiated a groundbreaking project to grow seaweed commercially in B. Fehendhoo.

During an appearance on Public Service Media (PSM)’s ‘Raajje Miadhu’ show on Saturday night, State Minister for Fisheries Mohamed Muthalib stated that the company initially had the ability to grow 100 kilos of seagrass, but currently cultivates and exports 63 tons of seaweed every month.

Muthalib characterized this as a wise investment, stating that the government intends to back the nationwide growth of the seaweed industry.

He mentioned that the government aims to expand seaweed exports into a business that produces revenue comparable to or exceeding that of skipjack tuna, the nation's largest export.

The government has identified regions in Boduthiladhunmathi, encompassing HA. Atoll and HDh. Atoll, together with R. Atoll, M. Atoll, and Th. Atoll, along with a two-kilometer lagoon from K. Maniyafushi, designated for mariculture.

Fisheries Minister Ahmed Shiyam has expressed that the government aims to develop the nation's mariculture sector into a billion-Rufiyaa industry.