Wonders of Panabo City

Bangus Harvesting

Mariculture Park of Panabo City

DAVAO CITY — More investors are coming in and venturing on mariculture production with the continued development of Panabo Mariculture Park.

Opened in 2006, this joint project of the Department of Agriculture, Bureau of Fisheries and Aquatic Resources (BFAR), the Panabo local government, and the Province of Davao del Norte, the park located in J.P. Laurel, Cagangohan, and San Pedro has shown sustainability.

For three years now, the mariculture park continues to contribute food security especially to Mindanao provinces, job employment, increases fish stocks in the coastal-marine waters, and promotes ecotourism development.

According to data furnished by the (BFAR), as of August, the 1,075-hectare mariculture park has enticed a total of 115 local and foreign investors who have already harvested 1,394 metric tons distributed to most areas in Mindanao.

Among the investors are Japanese, Ecuadorian, and Taiwanese businessmen who have put in money for this business and tried out the export market. The project also benefited sectoral groups, not just private individuals. Nineteen marginalized organizations like fisherfolk families, women, out-of-school youth, and cooperatives also took share in this investment.

Since January until August this year, investors reported an income of more than 89-million pesos out of the more than 1 million kilograms of fish harvested.