Fish processing sector in Russia's Primorye Ter shows 25% growth in

VLADIVOSTOK, September 6 (Itar-Tass) -- The fish processing sector in
Russia's Far Eastern Primorye Territory has shown a 25-percent growth in
2011 thanks to the territorial long-term program of support for local fish
processing enterprises, Primorye territory governor Sergei Darkin said
here on Tuesday, addressing the 6th International Fishery Congress.
According to the governor, the program was adopted late in 2010 and
provides for subsidies from the territorial budget to fish processing
companies. To receive budgetary support, a company must only comply with
three requirements, i.e. it must increase its output, have no tax arrears
and pay its employees wages higher than the average in the industry.
If a company meets all the three requirements, it may be paid from 1.2
to 25 roubles per kilogram of its output depending on the type of
products. The money is meant to compensate some of its production
expenses. Moreover, such companies may be granted easy loans to buy fish
processing equipment and overhaul production facilities. A total of 80
percent of the Russian Central Bank's refinancing rate will be reimbursed.
Equipment may also be purchased from Russian leasing companies.
A total of 15 fish processing companies have embarked on the program
in 2011. Budgetary subsidies worth more than eight million roubles have
already been issued to such companies since the beginning of the year. In
all, some 190 million roubles will be allocated for these purposes from
the territorial budget through the current year.
It is expected that by 2013, or when the program ends, the output of
end fish products will reach 136,900 tons, or 2.6 time as much as in 2009.
The program also aims to help create new jobs in the industry and to bring
up monthly wages. Apart from that, thanks to the program, more than
100,000 tons of frozen fish, which are now exported, will be further
processed inside Russia.
The congress that will end on September 7 has brought together about
600 delegates from 13 Russian regions and 17 foreign countries, such as
Great Britain, Germany, Norway, the United States, Japan, North and South
Koreas, etc. Representatives from Russian fish-rich regions of the Far
East as well as from the Murmansk, Astrakhan, Rostov and Moscow regions,
Moscow and St. Petersburg attend the forum.