August 16, 2018
Singapore firm plans to invest in Cambodia's aquaculture
Lush Food Pte Ltd., a Singapore-based firm, has announced its intentions to build fish farms in Cambodia.
Patrick Yap, managing director of Lush Food held a meeting this week, with Say Sam Al, Minister of Environment, to discuss an investment proposal.
According to Mr. Yap, his intent is to breed quality fish to meet both local and international demands.
"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 explained during the meeting.
Agreeing with Mr. Yap's sentiments, Mr. Sam Al alsoindicated his support for the project as long as it complies with national and international laws, specifically referring to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
The minister added that the investment makes good business sense because of local fish demands and would aid the national economy while creating more jobs.
In April this year, a Chinese-owned company, 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 investment plan includes building fish farms in Koh Kong's SreAmbel district, which will spread over an area of 240 hectares and deep-sea breeding and hatching projects in Sihanouville'sKohRongSamloem island, which will cover 2,000 hectares.
Last year, Cambodia's total fish catch equalled 856 tonnes, an increase of 6.7% from the previous year.
Source: KHMER TIMES