Monday, January 28, 2013

Sabah Fisheries Drew RM3.21 Billion Private Investment Last Year

Posted by Smookiekins On 1/28/2013 08:28:00 AM

The fisheries sector in Sabah last year attracted RM3.21 billion in private investment which is expected to generate RM6.53 billion in returns and 31,231 job opportunities, said Deputy Chief Minister Datuk Seri Yahya Hussin.

A subsidiary of the American company Darden, Lobster Aqua Technologies Sdn Bhd, will invest RM2 billion in a lobster farming project in Semporna, said Yahya, who is also state Agriculture and Food Industries Minister, in his speech at an assembly for his ministry's officers and staff at Wisma Pertanian here today.

He said of the 40 companies which have submitted applications for marine-based projects in the state, 25 per cent have been approved or their approval supported through the Agriculture National Key Economic Area for aquaculture.

The ministry will also provide aid for fishermen to raise their incomes, he said, adding in 2011 and 2012, a total of 427 fishermen received RM49.5 million in aid in the form of fisheries infrastructure, equipment, marine aquaculture development incentives and human capital development.

The commercial paddy cultivation programme in Kota Belud will begin in March involving 800 hectares, 762 participants and infrastructure development cost of RM14.6 million, he said.

"By 2020, it is estimated 5,000 hectares will be under double cropping with yields approaching 8.5 metric tonnes per hectare," he said.

Last year, the Agricuture Department gave out RM18.0 million in plowing subsidies for 29,848 hectares of paddy field involving 26,046 farmers, he said.

The state's rubber production of 44,185 metric tonnes last year had a market value of RM422.15 million, he said, adding the Sabah Rubber Industry Board's (LIGS) profits in 2011 and 2012 of RM44 million and RM34 million respectively have enabled it to pull itself out of the "sick agency" label.

A total of 249 development projects and programmes were implemented in the state last year, comprising 180 state-funded and 49 federal government-funded projects, he said.

Yahya said last year, the Fisheries Department spent 95.29 per cent of its allocation, followed by LIGS (95 per cent); Sabah Fisheries and Fishermen's Development Cooperative (Ko-Nelayan) (93 per cent); Drainage and Irrigation Department and Rural Development Cooperative (89 per cent each); and Department of Veterinary Services and Animal Industries (84.4 per cent).

Source: Bernama


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