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22 February 2012

Russian First Deputy Prime Minister: “Let’s stimulate Russian fisheries to grow”.

Russian fisheries can receive longer-term quota

According to the latest statement of First Deputy Prime Minister Mr. Victor Zubkov, which I’ve read today, the government is considering a bold step: increase an areas allotment period for fisheries up to 20 years and quotas to 10 years.

Mr. Zubkov believes that one of the most important conditions for the development of Russian fishing industry is decision about catching quota allocation for 10 years, and fishing areas allocation – for 20 years.
This shall provide companies with good background of fishing with security and wide horizon for investment in infrastructure. It is a challenge to select effective fisheries, which should get a priority access to the aquatic resources. The Russian government is not planning any changes to the existing rules, moreover, it’s ready to consider extending the terms of quota distribution contracts for up to 20 years,” said Viktor Zubkov.

In my personal view it is a VERY positive development and way of thinking. Fishing industry is an investment intensive business, and having a clear horizon/security is critical for decisions whether to invest in infrastructure or not.
Shall this initiative come true, I expect a good kick-start for Russian businesses to invest in quality infrastructure.
Who is up for an investment?

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