| Azlan Othman |
THE Ministry of Primary Resources and Tourism is targeting the gross output of agriculture, fisheries and forestry to grow at an average of 28.8 per cent per year (2015-2020) and worth $1.8 billion by 2020 compared to the average overall growth of 6.5 per cent per year (2010-2015) worth $511 million in 2015, figures revealed to the Bulletin indicated.
The average annual growth of industrial gross output of agriculture, fisheries and forestry is targeted to be 24 per cent, 44 per cent and 6.5 per cent respectively for 2015-2020 compared to 9.90 per cent, 3.11 per cent and -6.75 per cent for 2010-2015.
As for the tourism industry, the target is for tourist arrival to grow 15.63 per cent annually (2015-2020) compared to 0.36 per cent annually (2010-2015) with revenue from tourism expected to reach $335 million by 2020. The number of air travel has increased from 218,000 in 2015 compared to 450,000 by 2020.
As for aquaculture, the ministry aims $400 million by 2020 compared to only $10 million in 2015. For fish capture, $112 million is targeted by 2020 compared to $84 million in 2015.
The ministry said aquaculture figures above did not include the recently unveiled vertical land-based, bio-secured and high-density aquaculture farming in the country by KR Apollo Sdn Berhad, a project by Brunei and Singapore.
The over $20 million investment will realise the production of aquaculture food and aquarium fish from this year, a key priority project for the fisheries sector.
The emphasis is to ensure that there is an increase in the output growth of agricultural industries, fisheries and forestry encouraging investor participation, both locally and investors from abroad; give emphasis on increased productivity and the use of high technology; and focus on the export market.
The ministry also revealed projects implemented through private-public partnership, foreign direct investment, joint venture, tender, local entrepreneurs and technology.
Foreign Direct Investment projects include Hiseton from China that grows Pompano fish in the country and targeting a $100 million sale annually through fish-caging system and Yamako from Japan which is planning to export tuna to Japan with an annual sale of $100 million targeted.
Golden Corporation from Taiwan is cultivating blue shrimp with sale targets of $100 million annually.
Meanwhile, joint venture projects include SBM from Indonesia and Nurnabai from Brunei under which Grouper cultivation and targeting $30 million sale per year through pond and caging farming and contract farming.
Other joint venture projects include RBI from Singapore and Samakaya from Brunei for crab farming targeting $100 million sales per year through vertical and contract farming.
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