LAUNCHING AND HANDOVER CEREMONY OF FRESHWATER LOBSTER (LAT) AND GEOPRODUCT ENTREPRENEURS BUSINESS SUPPORT INCENTIVE – HELANG NEW ECONOMIC PROJECT

Ayer Hangat, 4th March 2021 – The Handover Ceremony of Freshwater Lobster (LAT) and Geoproduct Entrepreneurs Business Support Incentive was held at Ayer Hangat Village, Langkawi. This ceremony was launched by YBrs. Dr. Hezri Adnan, LADA Chief Executive Officer, who was accompanied by YBrs. Dato’ Syed Isa Syed Alwi, DXN Agrotech Sdn. Bhd. Chief Executive Officer and YBrs. Tuan Haji Rohaizad bin Rashid, LADA Deputy Chief Executive Officer (Management).

The Freshwater Lobster (LAT) Project is a pilot project stemmed from collaboration between LADA and DXN Agrotech Sdn. Bhd. company.

LADA and DXN Agrotech Sdn. Bhd. have identified a new economic branch namely fishery that can be utilised as an additional source of income with a potential to be generated for a long term for the locals. Be it fishery or agriculture, the secondary economic sector is capable in boosting economic growth and producing more entrepreneurs of other downstream products, for example food products based on freshwater lobsters.

This effort is believed to be beneficial to Langkawi residents who have lost their sources of income as tourism sector has been badly impacted due to the spread of COVID-19.

The LAT pilot project involves 23 individuals comprising industry players and Langkawi community, including taxi drivers, tour guides, and asnaf (aid recipients). Each participant receives RM 2,000 support in the form of freshwater lobster breeding set which also contains 500 lobster seedlings. Participants can start harvesting the lobsters during the fifth or sixth month of breeding. On the other hand, seven Geoproduct entrepreneur participants receives RM 3,000 fund injection to start their businesses.

LADA and Malaysian government hope the participants will continue to learn and make full use of the knowledge in this new economic branch of freshwater lobster breeding as implemented by DXN Agrotech Sdn. Bhd. This business is also anticipated to successfully develop, therefore helping the participants to become productive entrepreneurs.

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