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Multi-million dollar investments planned for fisheries sector

FIS (Fish Info and Services)

Multi-million dollar investments planned for fisheries sector

4 March 2011

Significant private investments are anticipated during 2011, mainly to finance the enhancement of vessels and environmental management projects, said the Deputy Minister of Fisheries, Maria Isabel Talledo.

"This year, large fishing companies and various aquaculture companies will make significant investments. There is talk of USD 500 million this year, including various grants and purchases of businesses," said the deputy minister.

Currently, the major fishing companies are spending significant amounts on technological innovation to improve the environmental issue, with the goal of reducing emissions and solid waste, reports Andina.

In addition, numerous international companies expressed interest in investing in the Peruvian fishing sector, especially driven by the various Free Trade Agreements (FTAs) that the Central Government has signed.

In addition, Talledo estimated that aquaculture will grow this year by 20 per cent, a percentage similar to that recorded in 2010.

Last year, it launched the National Aquaculture Development Plan (PNDA), to govern until 2015 and aims to guide the development of aquaculture, through the mobilization of financial resources from public and private sectors, and international cooperation.

For his part, Carlos Cisneros, director of Mariculture at the Ministry of Production (Produce), noted that there are between 3,000 and 5,000 acres available across the country to develop aquaculture.

"The Ministry of Production grants concessions at national level, the interest in developing this activity is permanent, everything depends on entrepreneurs who want to continue investing in this sector," said Cisneros.

In the scallop farming sector, there are around 60 companies producing around 2,000 hectares that have so far invested over USD 100 million, he said.