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Entrepreneur from Singapore plans to invest in aquaculture

on . Posted in News

CAMBODIA: A Singaporean investor has decided to set up fish farms in Cambodia to meet local and international seafood demand.
 
As an initial step, the entrepreneur, Patrick Yap, managing director of Lush Food Pte Ltd., held a meeting this week with Minister of Environment Say Sam Al to discuss an investment proposal, Khmer Times reported.
 
“The project focuses on aquaculture, particularly national species as well as endangered ones, which will contribute to the preservation of the country’s biodiversity,” he said during his meeting with the minister.
 
For his part, minister Sam Al said he supports the project as long as it complies with national and international law, particularly the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
 
The minister said the investment makes good business sense because most Cambodians eat fish and pointed out that the project would be good for the national economy and would create jobs.
 
In April, Chinese-owned Jin Yu Tang Aquaculture (Cambodia) Co announced plans to invest USD 100 million in freshwater and seawater aquaculture projects in Preah Sihanouk and Koh Kong provinces.
 
The Chinese firm intends to invest in fish farms in Koh Kong’s Sre Ambel district, which will spread over an area of 240 hectares. Likewise, deep-sea breeding and hatching projects are planned for Sihanouville’s Koh Rong Samloem island, which will cover 2,000 hectares.
 
In 2017, Cambodia’s total fish catch equalled 856 tonnes, up 6.7 per cent from the previous year.
Source:FIS

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