A decade-long investment warning related to Queensland’s commercial fishing industry has been revoked.
State Primary Industries Minister Tony Perrett said the revocation was aimed at restoring confidence in the industry, improving financial access and supporting growth.
Minister Tony Perrett said for at least the past decade the commercial fishing industry had been under Government-issued Investment and Increased Effort Warning Notifications.
He said the investment warnings were a barrier to investment and innovation at a time when producers were looking to modernise, adapt and remain globally competitive.
“Queensland’s commercial fishers deserve certainty and the confidence to grow.”
Minister Perrett said industry contributed more than $350 million annually to Queensland’s economy while supporting almost 2850 jobs.
“By revoking these warnings, we’re backing our seafood industry, reducing red tape, and restoring confidence.
“This will support our ambitious target to grow the value of primary industries to $30 billion by 2030.”
Queensland Seafood Industry Association CEO David Bobberman said the warnings had a chilling effect on investment in the industry and stunted its growth.
“This is an incredibly important development that will be universally welcomed by wild-catch fishers throughout the State,” Mr Bobberman said.
“It will significantly enhance the industry’s outlook,” he said.
