The country's fisheries industry production has increased from 95 million dollars in 2016 to one hundred and 12 million dollars in 2017. The fishing sector is the main contributor in the development of the fishing industry out of the overall local production.
The fishing sector contribution has increased from 70 million dollars in 2016 to 73 million dollars in 2017. The aquaculture sector contribution also recorded an increase from almost 10 million dollars in 2016 to 17 million in 2017, while the Seafood Processing industry production increased to 22 million dollars in 2017 compared to 15 million dollars in the previous year.
The fisheries industry is one of the main resource sector that can contribute to the growth of the Gross Domestic Product, GDP, export and economic diversity. Among the efforts carried out by the Fisheries Department to further develop the fisheries sector, specifically production through aquaculture methods, is by encouraging the participation of foreign domestic investment and increasing access to export markets.
The broad use of modern technology by entrepreneurs in the fisheries industry, is among the factors that contribute to the increase of production. Through the strategic plan set by the Ministry of Primary resources and Tourism, the fisheries industry production is expected to increase rapidly with the aquaculture sector as the major contributor, which in turn, will enable the processing sector to also increase through contributions from the aquaculture sector.
Source: Radio Television Brunei