• 2016 September 2 12:48

    Mechanism of investment quotas to attract RUB 200 bln of private investments into fishing fleet

    Total volume of investments that can be attracted through the mechanism of investment quotas can amount to RUB 20 bln till 2020 including RUB 120-150 bln in the Far East, IAA PortNews journalist cites Ilya Shestakov, head of Federal Agency for Fishery, as saying at the Eastern Economic Forum.

    The Federal Agency for Fishery of Russia (Rosrybolovstvo) has developed normative acts establishing the procedure of allocation of quotas for investment purposes (construction of fishing vessels and factory ships) and the requirements for investment projects. According to the updated law on fisheries, Rosrybolovstvo offers to allocate for these purposes up to 20% of the quotas, the agency said.

    This measure of state support is expected by Rosrybolovstvo to help build 150 small, medium and large capacity vessels as well as several large processing facilities.

    Rosrybolovstvo has developed a concept for Russia’s long-term fishery development strategy. The strategy is to focus on enhancement of economic returns from aquatic bioresources which can additionally bring more than RUB 100 bln into the country’s GDP.

    “We think that investment quotas are to encourage the construction of high-tech and most efficient production facilities,” said Ilya Shestakov.




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