A Chinese investor plans to build an Aqua-culture processing plant in the city that will generate thousands of jobs for Davaoeṅos.
On Monday, officials of the Zhe Jian Fang Yuan Ship Industry Co. LTD. met with Davao City officials of the city in a bid to lay down their plan to put up an Aqua-culture processing plant in the city.
The investors were led by their chairman, Wen Lin Jin.
Davao City Investment and Promotion Center Head Lemuel Ortonio said the Chinese investor was on the look-out for an area where it intends to build its plant that will process marine products that will be exported to China and other countries as well.
“The plant will process marine products to dried goods that will be exported mainly to China,” he said.
Ontorio said that this will be a big boost to the city’s economy as it will generate development and more work for the Davaoeṅos.
Though the business will be solely owned by the Chinese investors, the management vowed to hire 10,000 Davaoeṅos that will work with them.
“The city will not hold any ownership, it will be owned by the Chinese investors only, however, it can create job opportunities to 10,000 Davaoeṅos,” he said.
Ontorio said that aside from job opportunities, they will also provide technology transfer for the latest technology on fishing.
The company also ventures on the ship building and repair that will be part of aqua-culture plant. They will be needing 3,000 hectares for their long term investment worth P3 billion.
Ontorio said that the Chinese investors decided to invest here in the city after President Rodrigo Duterte’s visit in Chia.
Last year, officials from the city government led by Vice Mayor Paolo Duterte went to Shanghai, China for the investments of the Chinese government that they will pour in the city.
The Shanghai government vowed to pour investments on the tourism and infrastructure development in the city after their meeting with the Vice Mayor.
Several direct flights from the city to the different provinces in China are also on the hook.
