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The Far East Scallop and Trepang have gone Online

The introduction of a new online service for investors in aquaculture will improve the investment appeal of this industry both for Russian and foreign fish-breeding companies

The Far East Development Fund (FEDF) presented a new online service for investors in aquaculture at the Eastern Economic Forum that was developed under the instructions of the Russian president Vladimir Putin in order to develop the fish-breeding industry in the region. As vice prime minister Yury Trutnev previously stated, the offshore zone of the Far Eastern fish breeding area available for aquaculture will be opened for investors, and all the sections where investors will be interested in aquaculture development will be provided to them for use within the next 3 years.

The Far East Scallop and Trepang have gone Online
Фото: Shutterstock.com
According to the director general of the FEDF, Alexey Chekunkov, information on the sections of the water areas put on auction by Rosrybolovstvo were converted into digital format and put on a map for the first time.

The new service allows investors to access the water areas in an online store regime, and to check the status of sections available for aquaculture in real time.

The procedure for the formation and distribution of sections has changed dramatically, and has become more simple and clear. While previously investors spent up to 180 days collecting documents and preparing to obtain the rights to use an offshore zone, and had to visit Moscow to take part in an on site auction, now the process will take a maximum 70 days (maximum 10 days for the section-forming procedure).

An investor may select a section, send an application for forming the section to Rosrybolovstvo, and take part in an e-auction for the right to sign an agreement to use the section directly from their office with the use of the web-service. If they win an auction, an agreement for the use of the fish breeding section is signed.

Electronic format of application filing and participation in the e-auction is available to Russian legal entities, including those with foreign capital, and individual entrepreneurs, and is based on authentication mechanisms with the use of qualified electronic digital signatures, subject to the availability of documents confirming the registration of the legal entity on the electronic marketplace.

Aquaculture is considered to be the most promising area in the development of the fish breeding industry. Global fish and seafood consumption is increasing. The yield of fish and seafood in the global ocean reached its maximum. Exhaustion of the resources of the global ocean will increase the demand for aquaculture. According to expert forecasts, by 2050, the amount of aquaculture production around the world will double, and make up 66 million tons.

In the Far East, more than 70% of production in mariculture is ensured by Far East trepang and sea scallop. Due to favorable environmental conditions and the location of the region near to the largest global consumers, products of local companies are on high demand in China, Japan, and South Korea. The prospects of the salmon breeding sub-industry are good, as its consumption in our country is constantly increasing. However, the amount of the production of fish breeding products is relatively low. Today, only 20,000 ha, or 1% of the Far East offshore zone, are provided for use within the framework of mariculture breeding. Moreover, the free areas of the offshore zones of the Far Eastern fish breeding area suitable for mariculture breeding have dozens of thousands of square kilometers, and the natural conditions allow breeding not only of trepang and scallop, but also of oysters, mussels, sea urchins, and seaweed.

FEDF believes that change in the game rules on the market, the elimination of complex bureaucratic procedures, and the introduction of modern technologies will enable the Far East to launch the commercial use of its promising water areas, saturate the domestic market with fish products, and take its rightful place on the global aquaculture market.