PANGKOR ISLAND (Bernama).- The Entrepreneur and Cooperatives Development Ministry (MeCD) proposes to create 100 aquaculture entrepreneurs in efforts to boost production of quality fish to meet domestic demand and for export.

Minister Datuk Noh Omar said an initial RM3 million allocation had been set aside for 10 entrepreneurs to undertake the project in collaboration with Global Hi-Q Sdn Bhd, a company engaged in the production of marine-based products for local and foreign markets.

"The selected entrepreneurs will rear about 20,000 kerapu fish in each pond provided by the company.

"They can apply for guarantor-free loan as working capital for the project, which is expected to generate income of between RM3,000 and RM4,000 a month to each of the participants," he told reporters after opening the Global Hi-Q's bio-technology complex in Teluk Dalam Sunday.

He also said local residents would be given priority to carry out the project.

The RM100 million project, a joint venture between Global Hi-Q and a Taiwanese company, is the first inland marine fish rearing project using bio-technology.

He also urged fishermen's cooperatives to look into the potential of aquaculture to increase their income and also that of their members.

"Based on statistics by the Agriculture and Agro-Based Ministry, the country imports more than 900,000 tonnes of fish to meet local consumption," he added.

Source: http://www.bernama.com.my