In the next four to five years, Cambodia expects to generate income from lobsters from US$500 million up to US$600 million, Mr. Nao Thouk, Director General of Fisheries Administration, Ministry of Agriculture, Fisheries and Forestry quote by Rasmei Kampuchea Daily yesterday.
Speaking to a group of reporters in the Official Development Assistance Press Tours hosted by the Japanese Embassy in Phnom Penh and Japan International Cooperation Agency (JICA), Mr. Nao Thouk has been quoted that if the lobster breeding program runs smoothly, we expect that it would provide income up to US$600 million.
Cambodia needs from US$4 million to US$10 million to run the program and the Fisheries Administration has already submitted the concept note to the donors.
Last year, Cambodia spent US$55,000 to breed the lobsters and to release around 1 million young lobsters to natural habitats.
The Fisheries Administration is planning to release up to 140 millions of the young lobsters from 2011 to 2016 and expects to get thousand tones of lobsters for trading, he said.