Chinese firms invest in Philippine fishery

THE PHILIPPINES - Investors from China's Shandong province have decided to put money in fishery-related projects in the Philippines, House Speaker Jose de Venecia said.

De Venecia, who hosted 15 Chinese investors here recently, said Shandong officials planned to invest in fish farming, deep-sea operations, boat building, feed mills, a fish processing plant, and cold storage facilities.

He said fish cages would be established in the provinces of Pangasinan, Palawan and Davao and in the islands of Samar, Leyte and Panay.

"I also asked them to invest in developing and modernizing the production capacity of the 250,000 hectares of fishponds in Pangasinan by [culturing] white shrimps and tiger prawns with 'bangus' [milkfish]," said the Speaker, a native of this province.

Source: Inq7