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A CHINESE company has signed a memorandum of understanding with the State for a US$150 million (K527.20mil) industrial park for marine resources in Western.
Fisheries and Marine Resources Minister Dr Lino Tom said the Fujian Zhonghong Fishery Ltd wanted to invest in Western. Tom said the investor would work with the National Fisheries Authority to provide technical assistance in what they planned to do.
The Government hopes to sign an agreement later so that exports of marine products can take place plus other spin-off economic benefits and job creation.
“This project will allow about 90 companies to access the Chinese market in terms of selling marine products,” he said.
“We also want to encourage foreign companies to invest and realise the potential we have in the marine sector.”
The Fujian Zhonghong Fishery Ltd is interested in setting up a marine industrial zone.
“It is quite a massive foreign investment in the country.
“Not only will they fish but also create more jobs.”
Western Governor Toboi Awi Yoto and South Fly MP Sekie Agisa hope that an agreement will be signed in the near future to start the project.
“We have the products in the country but we do not have the market,” Yoto said.

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Western Province Papersshortnotesg.c.e Olive

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