It is estimated the industry is worth $500 million to Australia annually, but Queensland only contributes about $1.5 million.
The president of the Queensland Aquaculture Industries Federation, Dr Trevor Anderson, says red tape is turning investors away.
"It creates a whole set of uncertainty for potential investors and what the green paper is doing is developing a draft policy by which development can go ahead, so it is the first step in which delivering more certainty for investors," he said.
Source: Abc.net.au