The Russian fishing industry saw a significant growth in 2023, with a record turnover of 1.1 trillion rubles and a profit of 173 billion rubles, a substantial increase from the 170 billion rubles turnover and 27 billion rubles profit in 2014. Tax revenues also surged from about 10 billion rubles in 2014 to over 67 billion rubles in 2023, contributing over 227.4 billion rubles to the federal budget. This turnaround is largely due to the successful implementation of the investment quota program, approved in 2016 and expanded in 2019 to include crab harvesting quotas, which has attracted over 300 billion rubles in investments, leading to the construction of numerous vessels and processing plants.