Fishery investment up

JAKARTA (JP): Domestic investments in the fishery industry increased by 25.7 percent to Rp 997.18 billion (US$453.65 million) as of last November from Rp 777 billion as of the end of 1992.

The Ministry of Agriculture announced over the weekend that foreign investments reached $79.76 million as of last November.

The ministry's report said that out of the total investments, 70 percent was committed for fishing projects, 20 percent for the establishment of fishponds, 4.39 percent for pearl cultivation, one percent for aquarium fish cultivation and the remaining 4.61 percent for other fishery businesses.

The report said that during the fifth Five Year Development Plan (Repelita V) period ended in March, exports of fishery products increased by an annual average of 23.5 percent from 228,591 tons worth $825 million in 1989-90 to 520,319 tons valued at $1.49 billion in 1993-94.

Fishery production increased by an average of 5.4 percent per annum from 3.04 million tons in 1989-90 to 3.74 million tons last fiscal year. Fishing activities contributed 75 percent to the fishery production. (als)