Malaysia has announced a new plan to help promote deep sea fishing by offer fishermen the boats and other supplies they need to go deep sea fishing, which id defined as fishing 30 nautical miles away from the shore. This promotion is an attempt to improve the economy of the country.
“This project is moving along. It is very important that the shareholders have good working relationship with each other. We need to nurture thorough-bred Malaysian deep-sea fishing players,” Agriculture and Agro-based Industry Minister Tan Sri Muhyiddin Yassin said in an interview.
The Konsortium Perikanan Nasional Bhd (KPNB) is at the forefront of this new movement and according to Yassin, although the promotion is government sponsored, it is very much driven by the private sector. He continued to say, “I’ve been informed by KPNB’s board of directors that they’ve called up RM10 million out of the RM100 million shareholders fund to procure deep-sea fishing boats,”.
Only time will tell whether this large investment to help promote deep sea fishing will pay off for the Malaysian government.