A Chinese firm has signed a memorandum of understanding (MoU) with the Ministry of Agriculture, Forestry and Fisheries to develop an industrial-sized fish farm, the country’s first facility on such a large scale.
Jianyutang (Cambodia) Fishery will be responsible for building fish stocks to manage sustainable fisheries, developing aquaculture technology, generate investment, and promoting more trade and investment in fish breeding, among other things.
The facility will also develop commercial fish feeding methods, as well as process the fish meat on-site, according to the agreement, which was signed on Tuesday, the ministry said on its Facebook page.
Local fish farms in Cambodia are traditionally small, family-run businesses. In contrast, a figure of $100 million was mentioned last week in local media reports about the new industrial fish farm.
Eng Chea San, director-general for the Agriculture Ministry’s Fisheries Administration, said the MoU was just the beginning of discussions about the project, and more detailed plans on implementation were needed.
“We will have to see based on the reality of the different fields to decide on how to implement these plans, and decide on where to spend the budget and how much that will cost,” Mr. Chea San said.
He said he could not confirm costs for the farm or provide any additional details.
According to a report published by Reuters in December, Jianyutang (Cambodia) Fishery is part of a joint venture between China Ocean Fishing Holding and Khmer First Investment Holding Group to invest in fishery activities in Cambodia’s coastal area.