LINGAYEN, Pangasinan – The provincial government of Pangasinan and the Tokushima Auction Market (TAM), a Japanese government-owned corporation, have signed a memorandum of understanding (MOU) for a USD1-billion aqua farming development project.

The MOU was signed virtually on Thursday by Governor Amado Espino III representing Pangasinan and TAM president Yoshihisa Arai.

In a statement Friday, the Provincial Information Office said the project aims to establish floating cages, office buildings, artificial intelligence center, dormitories, communication and database center, feed warehouse, fish processing plants, cold storage, solid and wastewater treatment facility, medical center, and land development to help the aqua farming industry in Pangasinan.

Espino thanked TAM for choosing Pangasinan as one of its investment areas in the different food production programs.

“On behalf of the province of Pangasinan, I would like to thank all of our partners for choosing our province for this momentous endeavor. We hope that the signing of the MOU is a sign of our long and productive partnership with Tokushima Auction Market and the country of Japan that will greatly benefit the people of Pangasinan,” he said.

Espino also expressed full support for the project.

Prior to the agreement, TAM presented the Pangasinan fish farming project with the aid of Global Trade Venture Company Ltd. on July 13.

Pangasinan is one the biggest provinces in the country that is rich in agriculture.

Under the MOU, the aqua farming industry in the province was recognized as socially acceptable, economically viable, and environmentally sustainable in the food production in the province. (PNA)