On Sunday 30th August, the Peruvian Government issued a legislative decree approving the General Aquaculture Act, which aims to \"promote, develop and regulate aquaculture in its various production phases in marine, estuarine and continental environments.\"

The decree states the development of sustainable aquaculture is an \"economic activity having national interest that contributes to the productive diversification and competitiveness, in harmony with the preservation of the environment, biodiversity conservation and health and safety of resources and hydrobiological products\".

It also highlights the importance of this sector in obtaining quality products for food and industry sectors, generating employment, income and production chains, among other benefits.

An important measure to promote development is the introduction of an aquaculture mortgage and the new legislation enables aquaculture concessions to be eligible for mortgages to finance investments in the same concession. Mortgages will be constituted by public deed and entered in the Public Records.

The new decree also sets out that the Ministry of Production (PRODUCE) will be responsible for managing and updating the National Aquaculture Cadastre, which is established as a management tool in aquaculture.

Source: FIS.com. Read the full story here.