Iceland will consider offering production licenses to companies able to fund successful research into offshore salmon farming, part of the country’s drive to expand its fishing industry over the next few years.

As part of a new aquaculture bill to be presented to parliament next week, Iceland’s government is proposing that private companies be granted the right to explore conditions for offshore farming in predefined zones.

"To find out if and where sea farming is viable in Icelandic, numerous and thorough studies need to be undertaken,” the Ministry of Food, Agriculture and Fisheries said in the bill, which intends to introduce clear legislation for the country’s burgeoning aquaculture sector.