The People’s Committee of the southern province of Khánh Hòa has approved the construction of a major fisheries centre for the coastal south central region. — Photo khanhhoa.gov.vn

The People’s Committee of the southern province of Khánh Hòa has approved the construction of a major fisheries centre for the coastal south central region.

Covering 65ha at the Da Bac fishing port in Cam Ranh City, the VND1.2 trillion (US$53 million) centre is set to be the largest and most modern in the central region once it is operational.

Some VND276 billion, which was mobilised from the state budget and through Japanese loans, will be used to upgrade the Da Bac fishing port as part of the project.

Meanwhile, the French Development Agency has agreed to Khanh Hoa’s proposal on a loan of VND423 billion to build a dynamic fishing port.

The centre is expected to house 120,000 tonnes of seafood via the seaports when it becomes operational in 2018.

It will also accommodate vessels with capacity up to 2,000CV and provide storm shelter for over 2,000 fishing boats.

Export turnover

Export value of the province is expected to reach $1.21 billion in 2016, an eight per cent increase from last year, marking the fifth consecutive year Khanh Hoa’s export value has surpassed $1 billion.

Khanh Hoa’s main export commodities include new vessels, processed seafood, coffee and salanganes, as well as garments, textiles and sand.

The province’s import value is estimated at $720 million, producing a surplus of nearly $500 million.

In 2017, the locality aims to fetch $1.32 billion from exports. — VNS