The press service of the Russian government reports that the country is adopting new regulations and legislation to support the continued growth of the country’s burgeoning aquaculture industry. In 2013 Russia enacted a law entitled “On Aquaculture” giving favorable tax incentives and bank loans to the industry. Building on that law, now regional authorities can independently enter into contracts with companies and permit the breeding of fish stock in both natural and artificial water reservoirs. Regional authorities can also determine what type of fish is most suitable for breeding based on local climate and environment and to determine the most appropriate fish farm development course based on these estimates. Russia currently produces 130,000 tons of aquaculture products annually. Through these new guidelines the country has set a goal to double production by 2020.
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