Thailand
Cambodia: Singaporean firm reveals plans to invest in aquaculture
A Singaporean investor is looking to build fish farms in the Kingdom that will be used to feed local an international demand.
In what constitutes an initial step to get the project approved, Patrick Yap, managing director of Lush Food Pte Ltd., held a meeting yesterday with Minister of Environment Say Sam Al, to discuss an investment proposal.
Mr Yap said his intention is to breed quality fish for local consumption and to export.
“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.
However, Mr Yap failed to go into the details of the project.
Mr Sam Al said he initially 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. He said 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 $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 equaled 856 tonnes, up 6.7 percent from the previous year.
Source: https://www.khmertimeskh.com/50522241/singaporean-firm-reveals-plans-to-invest-in-aquaculture/