The Tilapia Commodity Committee (TCC) presented a National Tilapia Industry Development Plan to the Cabinet's standing committee on business development quoting a projected income of 20 per cent of the current food import bill after eight years of production.
TCC chairman Herman Lee King said the industry if properly regulated could be "very lucrative".
He said that Government had given the undertaking to set up the necessary regulatory framework.
He said that the tilapia industry was attractive to investors, and unlike other areas of agri-business, need not depend heavily on Government financial support.
"We should begin to have a positive effect on the national balance sheet within three years of start-up, and subsequently export profits should increase almost exponentially," Leed King said.
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