Korea to invest USD 1.2 mn. through FAO for shrimp farming

A Korean investment of around USD 1.2 million through the FAO was discussed at a meeting in Colombo last week between Fisheries Minister Douglas Devananada and Korean Ambassador Santhush Woonjin Jeong, a news release from the Korean Embassy said.

Referring to the recent investment commitment, the ambassador stated that Korea is keen to boost shrimp farming in the island.

Ways to promote exports, expand capacity-building and develop the fisheries industry in Sri Lanka were also discussed with both sides underscoring the importance of strengthening the aquaculture sector in Sri Lanka and agreeing to work closely together to deepen cooperation.