Chinese US$25M seafood processing facility providing markets for Guyanese fishermen

A Chinese-owned seafood processing company, Grandeast Inc, is the latest seafood processing establishment to commence operations in Guyana.
The Agriculture Ministry said on Monday that Minister Zulfikar Mustapha toured the US$25 million facility at Garden of Eden, East Bank Demerara, where he welcomed the market opportunities being presented to local fishermen with the establishment of the processing facility.
“So far I am quite impressed with the facility. This was a massive investment and it provides a ready market for our fishermen. The General Manager would’ve indicated that there is a ready market for this particular type of processed shrimp in China with room for expansion in the market. Our local fishermen would usually discard certain species of shrimp because there was no market for them locally. This company has provided that market and fishermen are now encouraged to work more hours weekly to satisfy the demand,” the Minister is quoted as saying.
He added that the Government supports these types of investments and will continue to support investments that benefit the people and the development of Guyana.

General Manager of Grandeast Inc, Wu Junyu said that the company has provided employment for 240 persons so far.
He also said that this was the first phase of the company’s local operations and that plans are being discussed for the commencement of phases two and three, adding that with the company looking to expand, it will require additional produce from local fishermen in order to supply its Asian market.
As it relates to foreign trade, Foreign Secretary Robert Persaud said that the Ministry of Foreign Affairs is working to address the issue of barriers to trade for a number of agricultural and other produce.
Hong Dong Fisheries Co, Ltd, which is the holding enterprise of Fuzhou Hongpu Aquatic Products Co Ltd is involved in ocean fishing, fishery base operations, cold chain logistics, fish processing, import and export trade, marine biology research, and aquatic product market operations management.