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Development of the Fishing Industry in the Far East Will Be Discussed at the Eastern Economic Forum 2021

18 August 2021
Развитие рыбной отрасли на Дальнем Востоке обсудят на Восточном экономическом форуме – 2021

The session “Investment Quotas: A Route to Growth in the Fishing Industry” is scheduled as part of the 6th Eastern Economic Forum, which will take place on 2–4 September in Vladivostok. The discussion will be part of the theme “The Far East: New Challenges and Opportunities”.

Investment by Russian fishing companies has increased almost fivefold over the past five years. Twenty-three new fish processing plants have been built or are in the final stages of construction in the Arctic and the Far East. However, the COVID-19 pandemic has exacerbated one of the industry’s oldest problems the state of logistical infrastructure.

The session will discuss the following issues: Have investment quotas become an effective mechanism for developing the fishing industry? What has become the most serious challenge to fishing companies in regards to the investment quota mechanism, and what should be changed? What should be the primary focus when expanding investment quotas?

Among the speakers at the session: Alexey Rakhmanov, Chairman of the Board and CEO of the United Shipbuilding Corporation, Gleb Frank, Chairman of the Board of Directors of the Russian Fishery Company, and Sergey Tarusov, Chairman of the Lenin Collective Fishing Farm, as well as representatives of federal and regional authorities.

“The large-scale renovation of the fishing fleet in our country would not have been possible without the mechanism of investment quotas for catches. Both the utilisation grant and the leasing programme have played their part. Now, the competitiveness of Russian fishing vessels will depend on how fast shipbuilders can overcome the old problems inherent in the restoration of competence. After all, domestic shipyards have not produced new fishermen for decades. And, of course, it is important to have the understanding of customers, as well as the continuation and rhythm of state support”, Alexey Rakhmanov underlined.

As a reminder, the main theme of the EEF 2021 is “The Opportunities for the Far East in a World Under Transformation”. The business programme includes four themes: “The New Economy: What Changes and What Stays the Same”, “The Far East: New Challenges and Opportunities”, “Our Shared Responsibility in a World Under Transformation”, and “Youth EEF”.