RF President to consider providing crab quotas in return for investments in development of social infrastructure
However he emphasized the priority of providing quotas in return for construction of ships
Russian President Vladimir Putin will consider providing crab quotas in return for investments in development of social infrastructure. It was initiated by Kamchatka Territory Governor Vladimir Solodov at the meeting with Government members held by Russian President Vladimir Putin on 16 August 2023. The transcript of the meeting is published on the official website of the Kremlin.
According to Vladimir Solodov, the second stage of investment quotas when holding crab auctions should foresee investments, among other areas, to the social infrastructure of coastal communities.
The President said that today the production capacities of the shipbuilding industry, especially in terms of the state defence order execution, make it impossible to complete all the orders for the fishing industry’s needs on time and in full. “This is understandable, although we need to strive to make it possible. I very much hope that the decisions being made on the proposal of the Government and the Prime Minister to transfer our United Shipbuilding Company practically under the control of VTB will have the desired and expected effect,” he added.
However, Vladimir Putin said he is “a little concerned that if we pull out this money from the area for which this was designated and transfer these funds to the construction of social infrastructure – though it is very important, of course – it would get lost there. Those goals are important, but they are not the ones that we set as priorities.”
The President promised to think about the proposal, “because the main thing for these quotas per keel or for crab or fish, is to renew the fleet. As I understand it, these quotas are happily accepted despite the awareness that the industry cannot fulfil them in full, and their fulfilment is postponed until later. We must make calculations. So, I would like to ask the Prime Minister to look into this as well. We have to calculate. Of course, if the money gets frozen and does not work effectively, perhaps some of it can be allocated for some time to solve the problems of building social infrastructure,” said the President.
In late December 2022, Russian President Vladimir Putin signed a law on Phase 2 of investment quotas and crab auctions with investment obligations. According to preliminary estimates, order portfolio under phase 2 of investment quotas programme exceeds 70 fishing ships including up to 35 crab catchers.
