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Indonesia Government, the Ministry of Maritime Affairs and Fisheries, is holding the procurement assistance program for the fishing boat with size from 5 to 30 gross tonnage (GT). In order to succeed in this program, a comprehensive study on a fishing boat is emphasized to be carried out continuously, and then the local wisdom aspect should be considered. This study aims to determine the feasibility of the investment of the fishing boats with the sizes into 12, 21, and 29 GT taking into account the aspect of the local wisdom in the case of Sinjai Regency, South Sulawesi Province, and to determine the weight of local wisdom for the investment of a fishing boat. The investment feasibility was analyzed using the Net Present Value (NPV) and Internal Rate of Return (IRR). In the present results, the three sizes of the fishing boat 12, 21, and 29 GT in Sinjai Regency have met the finacial feasibility. Also, these are suitable sizes to support the fishermen's welfare in Sinjai Regency. For the projection within ten years, the NPV and IRR are for the fishing boat size of 12 GT approximately 823 million rupiahs and 77% respectively, 998 million rupiahs and 54% for 21 GT as well as 979 million rupiahs and 38% for 29 GT. The weight of the local wisdom aspect in the investment of fishing boat is an average of 81.67%, wherein the local wisdom aspect includes the boat hull building, fishing equipment, and labor cost. Also, the weight of the local wisdom aspect for ship operation is an average of 62%, where the local wisdom aspect includes fish recording, maintenance, fish aggregating devices (FADs), and crew salary. For overall, the weight of the local wisdom aspect on the fishing boat building and operation cost are an average of 71.83%.

Study on the Investment Feasibility of the Fishing Boat Considering the Local Wisdom