Russian Gov’t approves regulation on crab boats construction incentives
Russian fishing companies will receive compensation from the Russian government for the construction of crab catching boats at domestic shipyards based in the Far East region. The corresponding decree has been signed by Prime Minister Mikhail Mishustin, the government's press office reported.
The subsidy will cover 20% of the order value, not exceeding RUB 340 million. The programme envisages that subsidies will be granted to organizations who have received fishing quotas in crab quata electronic auction. As part of the agreement on securing the share, they pledged to purchase medium-tonnage vessels built at Russian shipyards.
The Ministry of Industry and Trade is charged with concluding agreements on the granting of subsidies, as well as monitoring their implementation. The new regulation will take effect as from January 1, 2021.
It is noted that the programme of providing crab fishing quotas in exchange for investments in shipbuilding will help support the Far Eastern shipbuilding industry and accelerate the renewal of the country’s fishing fleet.