VN-Australia joint venture invests 30 mln USD in marine farming
VN-Australia venture invests 30 mln USD in marine farming in Kien Giang
A marine farming project worth 30 million USD has been licensed in principle in the southern province of Kien Giang, expected to produce 30,000 tonnes of saltwater fish for export each year.
Kien Giang's authorities grant the approval for the marine farming project of Mavin Group at an investment promotion conference on July 29 (Photo: VNA)
Hanoi (VNA) – A marine farming project worth 30million USD has been licensed in principle in the southern province of KienGiang, expected to produce 30,000 tonnes of saltwater fish for export eachyear.
The seafood farming centre, invested by MavinGroup – a joint venture between Vietnam and Australia, will cover 2,000ha ofwater surface off the coast of Kien Hai district to farm the fish species withhigh value like bass, grouper and Trachinotus blochii.
Mavin said the project, scheduled to becomeoperational in 2021, will apply modern marine farming technologies.
Environmental protection and origin traceabilitywill also be ensured to meet the European Commission’s recommendations toVietnam about fighting illegal, unreported and unregulated fishing, thus facilitatingthe project’s exports.
Aside from this project, Mavin has also inkedmemoranda of understanding on several others with Kien Giang province, includinga breeding centre for mariculture, a factory producing food for aquaculture,and a seafood processing plant.
The total investment in these projects amountsto 50 million USD, the firm said, noting that they will help it complete theproduction chain to optimise the manufacturing process and minimise cost.
They will also help turn Kien Giang into a majormarine fish farming and processing hub in Southeast Asia, Mavin added.
Aside from marine farming, this group isinvesting in some freshwater fish farming facilities in the Hoa Binh and TuyenQuang hydropower reservoirs in the northern region. It is also running severalanimal feed, veterinary medicine and food processing factories in the provincesof Hung Yen, Ha Nam, Nghe An, Binh Dinh, Tien Giang and Dong Thap. -VNA
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Kien Giang's authorities grant the approval for the marine farming project of Mavin Group at an investment promotion conference on July 29 (Photo: VNA) 
