New online-service from FEDF provides the investors with some 23.5 bln hectares for aquaculture in the Far East

Far East Development Fund represented at the Eastern Economic Forum an online-service for aquaculture investors. It clearly and simply demonstrates the prospective investors available waters of the Far Eastern fisheries basin. 

As of September 6 there are some 23.5 bln hectares available in the waters of 12-mile zone of the Far Eastern waters (mainly the Sakhalin region and the Primorsky region) that have no restrictions.  Upon adoption of the RF Government draft regulations prepared by the Fund an investor can personally determine location of the territory and its area on the assumption of his own perception of resource feasibility, economic efficiency and technology opportunities with no need for waiting the officials’ decisions. 

According to preliminary estimates, in the next three years about 100 thousand hectares of the waters studied will be distributed with the help of the new service. 
In accordance with the instructions of the President and the RF Government a new geographic information system provides for the use of the most advanced technologies for competitive bidding (online auctions) for the right to use fish-farming areas. Online auctions will let the investors participating remotely – there is no need to visit Moscow as before.  As against to existing procedure for creation and distribution of fishing areas that most often takes more than half a year, and as a rule, with negative result for the investor, the approach developed by the Fund will take about 70 days from the moment of creation of the area on an interactive map and conclusion of the agreement for such area use. 

A new model of aquaculture development creates opportunities for origination of real competency in bidding, and precludes the possibilities for collusions. The process of notification of the investors and the investors certified at the electronic platforms is automated too.

A new online service for aquaculture investors launched into pilot operation is free of charge. The database of prospective aquaculture areas is digitized, applied to cartographic base and will be transferred to the Russian Ministry of Defense, the Federal Agency for Fishery, and the Ministry for Development of the Russian Far East on a grant basis. Nowadays all necessary changes are being made to the legislation. They will let automating and simplifying the formal procedures as much as possible. The system will be commercialized upon issue of all necessary enactments by the Government of Russia.