The State Duma of Russia is waiting for a decision on the second stage of fish investment quotas

Published 2022년 12월 8일

Tridge summary

A critical decision on the future of Russia's fishing industry is imminent as a commission convenes to discuss the proposed bill for the second reading of the investment quota program. This program, which seeks to allocate 24% of pollock and herring, and half of crab quotas, along with all shellfish quotas, to investors for industry development, has sparked significant controversy. Regional authorities, fishermen, and the Accounts Chamber express concerns over the potential impact on small and medium-sized businesses, financial institutions, and employment, warning of bankruptcy, loan defaults, tax evasion, and unemployment if the bill is not amended. Since its initial reading, the bill has been under rigorous scrutiny and discussion, with lawmakers and regional leaders advocating for changes to address these concerns. The final decision aims to balance the need for industry growth with the protection of the fishing sector and related communities.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the KP, the entire fishing industry froze in anticipation - what will be the final decision of the body created to develop an agreed position of the State Duma, the Federation Council and regional authorities of the fishing regions to finalize the main provisions of the document for the second reading. And most importantly - when it will take place, because there is a week left until the second reading. The future of a strategically important industry and seven coastal regions of the country, as well as the price of fish for all Russians, depends on the results of the commission's meeting. An excursion into the history of the issue The bill on the second stage of the investment quota program assumes that 24% of pollock and herring harvested in the Far East will be given to investors who will be able to build new ships and coastal processing facilities. The project also provides that 50% of quotas for catching crabs and 100% for catching shellfish (scallop, trumpeter, ...

Source: Fishretail