Budget support for New Zealand aquaculture

New Budget funding of NZ$1.9 million will help New Zealand's aquaculture industry grow

May 28, 2009

Budget support for New Zealand aquaculture

The New Zealand Government has announced NZ$1.9 million in funding over the next four years to help development of sustainable aquaculture. Industry forecasts suggest aquaculture could grow into a billion dollar a year industry in New Zealand by 2025.

“Sustainable aquaculture is already an important export-earner for New Zealand and has the potential for substantial future growth,” Minister of Fisheries Phil Heatley said.

“The new funding will let us complete the review of current aquaculture legislation and begin implementation of any changes. We are looking to reduce the cost, uncertainty and time delays in planning and developing new aquaculture ventures.”

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