Unlimited opportunities in an ‘uncrowded market’
The marine sector is concentrated in the coastal and along the Bicol River municipalities where abundant resources of saltwater and freshwater fish species are caught on a commercial basis. Freshwater species including tilapia, carp, mudfish, freshwater prawns and eels are sold in local markets and to buyers based in Manila. San Miguel Bay and Ragay Gulf are two of the most important ocean fishing grounds in the region and infrastructure is in place for landing, storing and packaging catches ready for distribution around the country.
Saltwater prawns, flying fish, squid, octopus, lobster and sardines are the major fishstock types caught in these areas. Commercial farming of over 40 seaweed (kelp) species occurs around the reef formations of San Miguel Bay and is processed at factories in Manila ready for export to Japan and elsewhere. In Camaligan, a four-hectare storage facility, with refrigeration and ice making capability, allows for the quick packaging and dispatch of local catches.
The development of efficient marine-based port infrastructure facilities is a priority of the local governments in these marine and freshwater-based communities and already investors are taking up the challenge in value adding to valuable resources in what is regarded as an uncrowded market.
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