Ministry Expects RM1.6 Bln Boost For Aquaculture Industry

The Fish Site
by The Fish Site
8 March 2007, at 12:00am

PUTRAJAYA - The Agriculture and Agro-based Industry Ministry aims to draw private sector investments worth RM1.6 billion including from overseas for the development of the aquaculture industry under the Ninth Malaysia Plan (9MP).

Minister Tan Sri Muhyiddin Yassin said the ministry had identified 25,000 hectares of land that were suitable for the purpose.

However, RM250 million was needed to provide the infrastructure and various basic facilities, he told reporters after chairing his ministry's post-cabinet meeting here, Wednesday.

"Basically, the Economic Planning Unit has agreed to provide the fund," he said.

He said the government needed to get the private sector's involvement so that the country could produce 600,000 tonnes of aquaculture products annually compared to only 350,000 tonnes a year presently.