This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.
A. Galushka: It is important for us not to limit ourselves to catching fish, but to create processing capacities
South Korean companies can replace the Chinese group Pacific Andes in the fishing industry of the Far East, Head of the Ministry of Eastern and Eastern Development Alexander Galushka told ITAR-TASS.
"Companies from South Korea regularly show interest in this sector. But it is important for us not to limit ourselves to catching fish, but to create processing facilities in favorable conditions for business. We figured out this issue and found out that the problem is not in Korean companies, but in the fact that that they faced the reluctance of local authorities to organize acceptable conditions for their work - bureaucracy and red tape. But this is a solvable problem, "Galushka said.
In mid-May, 2014 reported in a commentary on the quarterly report of China China Fishery (part of the Pacific Andes group) that the company's revenue from selling products from Russian pollock in the 1 quarter of 2014 fell to 53% to 105,3 million dollars. According to Moody's, this result reflects the company's intention to completely abandon working with fishing enterprises in Russia. According to the agency's forecast, by the end of 2014, the share of the Russian business of a Chinese corporation will be no more than 32% of revenue. In the 1 quarter, the Russian segment provided 58,5% of China Fishery revenue.
This fishing conglomerate - the world's largest producer of fish fillets - has previously been the object of criticism of the Russian authorities. In one of the reports for investors from 2012, the company stated that it controls about 60% of pollock catch in Russia.
After that, Rosrybolovstvo sent a request to law enforcement agencies, the antimonopoly service joined the process, and as a result, the government commission on controlling foreign investment ordered Pacific Andes and China Fishery to sell Russian assets to companies registered in the jurisdiction of the Russian Federation.