Economy

China to Invest $3bn in Iran’s Fish Farming

More signs have appeared to show that East Asian countries are interested in Iran’s fish farming business. China has joined South Korea to announce that it is planning to invest $3 billion in Iran’s fisheries.

Chinese officials, during a recent visit to Iran Fisheries Organization, have voiced readiness to invest $3 billion in Iran’s fishery industry.

Hassan Salehi, the head of Iran Fisheries Organization, has been quoted by the media as saying that China’s decision to make the investment had been communicated to him through the country’s deputy agriculture minister during a recent visit to Tehran.

Salehi added that the priority points for the discussed investment are Iran’s southern island of Qeshm as well as the southern port city of Bandar Abbas.

The official further emphasized that China’s fishery output presently stands at 30 to 40 million tons in oceans worldwide. The country, he said, can provide huge potential for Iran’s fishery industry.

Salehi also said apart from China – as well as South Korea that has recently announced readiness to invest in Iran’s fishery industry – investors from France, Russia, Norway, Iceland, and Thailand have also voiced interest in the same sector.

He emphasized that Iran is trying to introduce its Qeshm Island, located in the Persian Gulf, as an ideal place for investments in the fishery industry.

On Monday, South Korea’s Ministry of Oceans and Fisheries in a statement released to the media announced that it plans to begin discussions with Iran on boosting bilateral cooperation in the fishery industry.

The statement added that the talks with Iran will also focus over the development of a joint fish farming venture.

Iran is seen as the largest fish farming nation in the Middle East, annually producing some 325,000 tons of fishery products through farming.

IFP Media Wire

Reports and views published in the Media Wire section have been retrieved from other news agencies and websites, and do not necessarily reflect the opinion of the Iran Front Page (IFP) news website. The IFP may change the headlines of the reports in a bid to make them compatible with its own style of covering Iran News, and does not make any changes to the content. The source and URL of all reports and news stories are mentioned at the bottom of each article.