Vladivostok fish businesses to receive RUB1.5 billion in state support

As of the year 2009 fishery companies based in Primorsky Krai Territory (Primorye for short) surrounding Vladivostok will be receiving large scale state support focusing primarily on subsidies for interest rates. According to the region's vice governor Igor Uleisky, such complex measures to support the Russian fishermen have been taken for the first time, the event to be regarded a large step forward for the nation's fishery industry as a whole, reports www.fishnet-russia.com (www.fishnet.ru) with reference to PrimaMedia.

Within the framework of the federal target program "Raising efficiency of exploitation and development of resource potential of the fishery complex in 2009-2013" six investment projects will be financed in Primorye with the total support to exceed 1.5 billion RUB. This money will cover fleet construction, development of port infrastructure, coldstore capacities, scientific support as well as conservation and reproduction of aquatic biological resources.

Igor Uleisky notes that Primorye has own support programs for the fishery sector which have been showing good results. More specifically, from the region's budget the local government has been subsidizing interest rates for credits towards modernization of the processing plant. In particular, such support has already been given to Tikhii Okean fishing co-op and Brasko Company. According to the governor's order, any business based in the province is entitled to apply for the funds. The total sum assigned for the purposes for a period of three years amounts to ca.30 million RUB.

In Primorye mariculture has been in special focus during the recent years. From the region's and federal budgets the local fish businesses have been receiving subsidies for interest rates for bank loans. For instance, such subsidies have been granted to Nereida and Vodnyi Mir.