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Potential of Russian fishing industry estimated at over $30bln, says fishery agency’s head

Currently the sector is actively attracting credit resources and has huge investment potential

© Viktor Drachev/TASS

ST. PETERSBURG, July 11. /TASS/. Russia’s Federal Agency for Fishery estimates the potential of the fishing industry at 2 trillion rubles ($31.7 bln), the agency’s head Ilya Shestakov said on Thursday.

"We have conducted a research, <…> we estimate the multiplicative effect of (Russian) fishing industry at 2 trillion rules, which is slightly less than 2% of Russia’s GDP," he said, adding that "the analysis does not include the debt burden and, obviously, there are also investment programs."

According to Shestakov, currently the sector is actively attracting credit resources and has huge investment potential. "Sberbank acts as the main creditor of the sector," he noted. According to the data provided by the credit organization, Russia’s fishing fleet stands at 550 vessels, while the number of companies in the sector is 7,900 with 60,000 employees. Sberbank estimates the sector’s exports at $4.5 bln.

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