11 Jan '10
Kamchatka will put as much as $117m over the next three years into its fishing and seafood sectors, RIA Novosti reports, citing Regional Ministry of Fishing Vladimir Galitsyn.
The funding will reportedly come from regional coffers and non-budgetary sources between now and 2012 under a special three-year regional program.
According to Mr. Galitsyn, the fishing and seafood sectors account for more than 50% of Kamchatka’s GDP and over 90% of regional exports.
There are more than 350 companies currently operating in the sectors, of which 215 have their own fishing fleets, the minister said. Fleet depreciation is very high as 89% of all ships are reportedly 15+ years old.
As Mr. Galitsyn explained, the program aims at boosting fishing to 850,000 tons a year by 2012; increasing the fishing and seafood sectors’ share in the regional GDP to 60%; and augmenting seafood production to 775,000 tons a year.