January 15, 2007

New aquaculture policy in Australia's Queensland promises to cut red tape
 

The Queensland Government has released its draft policy for the marine aquaculture industry in response to complaints that over regulation is strangling the aqua-business in the state.

Although the industry is estimated to be worth AUS$500 million to the country annually, Queensland only accounts for a paltry AUS$1.5 million of that sum.

The president of the Queensland Aquaculture Industries Federation, Dr Trevor Anderson, blamed it on red tape which he says is scaring investors away.

Red tape presents a whole set of uncertainty for potential investors and the new policy allows development to go ahead, he said.

The draft policy would be open for comment until February 22.