"We have to take a big leap, we have to think big and we need the $118 million to boost aquaculture," said the deputy fisheries minister, Paul Phumpiu.
In 2013, 105,000 tons of aquaculture harvest were recorded, with a retail value of over 600 billion, reports Andina.
Mr Phumpiu highlighted that it is necessary to increase the concession areas for the development of aquaculture activities, as many areas are not in use.
However, Mr Phumpiu recognized that despite having the resources, there are bureaucratic obstacles.
Finally, he said that the growth in aquaculture harvest was 61 per cent in 2013.