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Money Pours in as Ca Mau Flourishes

HCM CITY, VIET NAM The southernmost province of Ca Mau is becoming an attractive investment destination in the south due to priority investment in aquaculture and marine projects.

Huynh Viet Khai, the director of Ca Mau Province’s Trade-Tourism and Investment Promotion Centre, said more domestic and foreign investors had shown interest in the coastal province because of major ongoing projects, including the Viet Nam Ship Building Industry (Vinashin) Group’s Nam Can shipyard.

But, Khai said the province was also blessed with great marine potential and opportunities abound in aquaculture and marine products processing, and oil and gas as well as marine tourism.

Ca Mau Province has 270,000 ha of aquatic farming, one of the country’s four largest fishing grounds.

Its annual seafood export value has hit US$600 million, accounting for 15 per cent of the country’s total seafood export value.

The province planned to give priority investment in aquaculture and maritime products processing to reach an export value of US$1 billion in 2010.

To achieve this target, the province will upgrade the existing 32 seafood processing plants with a total capacity of 150,000 tonnes a year. With its main export item shrimp, the province will also encourage shrimp breeding and off-shore fishing.