Kazakhstan to increase state support for fish farming

Kazakhstan to increase state support for fish farming

Kazakhstan proposes to introduce additional measures of government support for entrepreneurs engaged in the field of fish farming, including subsidies, preferential lending, a special tax regime, scientific support and provision of necessary infrastructure. In turn, counter obligations will be prescribed for fish farming business owners. Primarily, they need to ramp up production volumes, meet domestic market needs and increase labor productivity. These and other tasks for the development of aquaculture are envisaged in the draft law. The document, currently in the discussion stage, covers several priority areas, such as the establishment of the legal framework, economic conditions, boosting export potential and increasing fish production. Measures for the industry development comprise the implementation of digital solutions and the allocation of water bodies for running a fish farm as well. Investors can obtain this right through competitive and non-competitive procedures.

“The proposal suggests providing water bodies on a competitive basis through electronic portal auctions for between five and 25 years. It was also recommended to allocate water bodies of national and international significance for aquaculture investment projects without competition if the minimum investment amount is at least 150,000 MCI, which is slightly over 500 million tenge. The main conditions for investors include having a business plan and confirming the availability of financial resources,” said Nurken Sharbiyev, Kazakh Vice Minister of Ecology and Natural Resources.