November 5, 2009

Malaysia invites investors, both local and foreign, to participate in the country's expanding aquaculture sector, a Malaysian official said on Wednesday (Nov 4).

 

Malaysian Agriculture Minister Noh Omar said that the country's aquaculture industry was expected to grow at 10 percent annually over the next ten years, offering good opportunities for all investors.

 

Noh also said that through effective management of the sea resources and aquaculture, the seafood and aquaculture products' exports would continue to offer around MYR2.5 billion yearly.

 

He added that the figure was expected to rise to MYR6.2 billion in 2010 based on the Good Aquaculture Practices and Post-harvest handling.

 

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

 

US$1 = MYR3.42 (Nov 5)