Malaysia invites foreign investors into aquaculture

Malaysia invites investors, both local and foreign, to participate in the country's expanding aquaculture sector, a Malaysian official said on Wednesday.

Malaysian Agriculture Minister Noh Omar made this remark at the Asian-Pacific Aquaculture (APA) 2009 and Malaysian International Seafood Exposition (MISE) 2009 here.

Noh said that the country's aquaculture industry was expected to grow at ten percent annually over the next ten years, offering good opportunities for all investors.

He also said that through effective management of the sea resources and aquaculture, the seafood and aquaculture products' exports would continue to offer around 2.5 billion ringgit (714.29million U.S. dollars) yearly.

The figure was expected to rise to 6.2 billion ringgit (1.77 billion U.S. dollars) in 2010 based on the Good Aquaculture Practices and Post-harvest handling, added Noh.

To increase fish production and to improve the National Trade Balance of Malaysia, Noh said the Malaysian Department of Fisheries under his ministry would turn out successful entrepreneurs by 2010 through seminars and research.

The APA 2009, organized by World Aquaculture Society, Malaysian Fisheries Society and University Putra Malaysia, has attracted over 1,330 participants from more than 50 countries.

The event held from Nov. 3 to 6 will feature 20 sessions ranging aspects in production, breeding and genetics, nutrition and health for some of the marine creatures.

Held in conjunction with the APA 2009 is the MISE 2009, showcasing the seafood industry in Malaysia that is now being transformed into a sustainable industry with food safety and quality foremost considerations.

Source: Xinhua