Vladimir Putin signs law on Phase 2 of investment quotas and crab auctions with investment obligations
P2 foresees the construction of up to 30 highly efficient fishing ships, 35 crab catchers and 8 fish processing plants
Russian President Vladimir Putin has signed a law on Phase 2 of investment quotas and crab auctions with investment obligations. Amendments have been introduced into the Federal Law on Fisheries and Conservation of Aquatic Biological Resources, says Rosrybolovstvo (Russian Federal Fisheries Agency).
The law is aimed at further modernization of the Russian fishery industry’s production facilities which is to increase the catch due to the development of the World Ocean resources, ensure modern fish processing, generate new jobs, improve the socio-economic standards in the regions, withdraw from the raw-material orientated exports, fill the domestic market with affordable and high-quality fish products.
P2 foresees the construction of up to 30 highly efficient fishing ships, 35 crab catchers and 8 fish processing plants
The second phase will let industry attract additional RUB 300 billion.
Revenues from the sale crab quotas will make about RUB 150 billion.
The amendments come into effect in 2023.
The law text is available in Russian >>>>
Related links:
Fishing industry representatives appeal to State Duma to support amendments to the bill on the Investment quotas P2 >>>>
Order portfolio under phase 2 of investment quotas programme exceeds 70 fishing ships including up to 35 crab catchers >>>>
Budget revenues from Phase 2 of investment quotas programme to exceed those from rates hike by one third – FSA >>>>
Bill on Phase 2 of investment quotas submitted to State Duma ‒ VARPE >>>>
The Council of Federation discussed Phase 2 of investment quotas programme >>>>
