Phu Yen to grant certificate for project on ocean tuna purchasing and processing

This was a cooperation project between Vinh Sam Company and five Japanese partners – including Rakuchi Broadband Solution Co.,Ltd,  Ohmasu  Co.,Ltd,  I-Point  Co.,Ltd,  At  Work  Company and businessman Yoshisada Wantanabe.

The  project’s  funds  totaled  US$2  million  (equal  to  VND41 billion),  of  which  Vietnam  side  contributed  US$980  thousand (VND20.9 billion) and Japanese side invested US$1,02 million within 3 years. Its aim was to purchase, process and export tuna and  special  marine  products;  train  local  workers  in  catching, treating and processing tuna; stabilize the price of tuna and help bring high interest to local fishermen and build up Phu Yen tuna brand. Phu Yen Tuna Joint Venture expected to produce 2,000 – 3,000 MT of tuna per year, in which 80 – 90 percent will be shipped  abroad  and  the  rest  in  domestic  market.  The  project will be put in line in Tuy Hoa City for ten years.

According  to  certification  requirements,  the  associated company needs to comply with Vietnamese engagements with the WTO, and other relevant legal regulations. Besides, the new company  should  make fishermen  involved  in  the  project  in order to ensure social security and create jobs for local people.