A $25 million investment for a lucrative shrimp trade in Digos City to supply to the Japanese and American markets will soon come into fruition after stakeholders signed a memorandum of understanding with a local family early this month.
Signing the agreement were Kazou Sato, representing Global Trade Venture Co. Ltd.; Bernard Gusman of the Hawaii Auction Market; Yoshihisa Arai, chief executive officer of the GTV in Tukushima, Japan; and Christian Mayor who comes from a family in Padada, Davao del Sur that owns a 20-hectare fishpond which will be developed using Japanese technology to be able to produce world-class shrimps for the international market.
According to Gusman, a native of Hawaii, the idea evolved after his group discovered that the shrimp grown in Padada is of world-class quality.
At the same time, Gusman said the development of the project may also pave the way for funneling agriculture products such as bananas, chili and vegetables as there is also a great demand for these products in both Japan and in the United States.
“We can assure you this is not a fly by night venture. This is for real. This for the communities of Mindanao to cherish and to sustain,” Gusman enthused.
The Mayors have been producing bangus over the past 20 years, but the idea that shrimp farming was a potential gold mine was beyond their wildest imagination.
“This is a new season for all of us and probably the time for Padada to shine,” Laila Mayor said.
Since the feasibility study for the project was already completed, Sato said the project may be able to start operation by December this year once the infrastructure is in place.
“Once travel restrictions are lifted, our engineers will fly in from Manila to inspect the area first-hand and to begin work,” Sato said.
Gusman said they are looking into establishing an air link via the General Santos City airport that will be able to bring to the Japanese and American markets shrimps produced from Davao del Sur.