Bahrain seeks US$12 million shrimp production investment

Bahrain recently expressed interest to $12 million investment in shrimp production at the Carmen Integrated Aquaculture Park, provincial fishery officer Mohammed Jailani said.

However, according to media repors, Jailani said "nothing is official yet" until the Bahrain-based investor sends a letter requesting for submission of a detailed investment proposal.

He was not also clear what company would invest but the interest was expressed in a meeting with the Bahraini delegation which visited Davao del Norte to look for prospects of agri-business venture.

Davao del Norte Provincial Agriculture Office chief Dominador Encarnacion noted the investment value, if realised, as the "biggest" so far that would be poured into Carmen Integrated Aquaculture Park.

The park right now grows tilapia but Encarnacion said it can very well accommodate white shrimp production which the Bahrain investors are interested to pour their money into.

Reports said that Philippines and Bahrain had begun discussions on a possible agribusiness project in Mindanao covering an initial area of 10,000 hectares.