To expand the fisheries and artificial fish farming (aquaculture) sector in Azerbaijan in line with domestic demand, as well as to increase the investment attractiveness of the field, large-scale state support mechanisms are being prepared.
According to sea-news.az this was stated by the Fisheries and Aquaculture Center under the Ministry of Agriculture.
According to official information, the annual production volume of commercial aquaculture products across the country currently stands at approximately 4,000 tons. Since this indicator meets only a small portion of domestic consumption demand, doubling the production volume of aquaculture products to at least twofold by 2030 has been defined as the main strategic target.
Subsidies and Import Concessions to be Granted to Fish Farmers
The center noted that to achieve rapid development of the fisheries sector in Azerbaijan, work is currently underway in the initial stage on a special project regarding the implementation of subsidies directly tied to production volume. Along with this, to optimize producers’ costs, the application of customs and tax concessions is envisaged for the import of certain materials and technological equipment used in fisheries into the country.
To ensure entrepreneurs’ access to financial resources and to insure production risks, the creation of specialized agricultural credit and agricultural insurance mechanisms for aquaculture entities is planned in the coming years.
Legislation Being Simplified, New Enterprises Being Built
According to ministry officials, simplifying legislative requirements to ease the formalization of aquaculture farm activities is considered essential for eliminating bureaucratic obstacles in attracting investors to the sector, and work is being executed in this direction.
At the same time, to meet the country’s demand for breeding material (roe and fingerlings) through local production and ensure the restoration of natural aquatic bioresources, the reconstruction of existing enterprises operating under the ministry in accordance with modern requirements is intended. In addition, taking into account the climate and water potentials of different regions of the republic, the creation of several new, modern-type aquaculture enterprises is planned.
