Investment opportunities in fish farming in Egypt – In accordance to the national strategy for development of the aquaculture, the Egyptian government has undertaken the following actions:
- Opening of the Fayrouz Fish Farm project east of Port Said, Erket Gelioun in Kafr El Sheikh governorate, El Diba Triangle Western Port Said, East of Tafreah fisheries in Port Said, and the Suez Canal Company for Fish Farming;
- Development of the Fish hatcheries in order to provide seeds for marine species farming;
- Licensing availability for 25 sites in the Country soon to be offered to investors.
Find here the site description.
Aquaculture is the primary source of fish production in Egypt, which in 2019 recorded 85 % of self-sufficiency after reaching two million tons. Furthermore, the sector provides employment for 816,000 people (150,000 in the aquaculture value chain and 666,000 in fisheries).
Particularly, tilapia is the most farmed fish species in the country. The vast majority of the national fish production is consumed domestically, providing the equivalent of one fish per person per week.
The country has a lengthy coastline of about 2450 km along both the Mediterranean and the Red Sea.
Egypt also recorded the largest workforce for primary production among the region, benefiting thus from access to skilled workers with highly competitive wages.
The free trade agreement aims to reduce customs duties on primary production of agricultural commodities, while finding solutions to regulatory issues and enhancing cooperation in the areas of origin, preferential guarantees, investment, services and much more.
Investment opportunities in fish farming in Egypt
Photo Credits: Vera Kratochvil
Leave a Reply