A joint venture between central coastal Phu Yen province and four Japanese companies will be set up in Phu Yen in the third quarter of the year to buy, process and preserve ocean tuna for export.

A framework agreement to this effect was signed in Phu Yen on March 17 by representatives of the People’s Committee and Planning and Investment Department of Phu Yen province and Director of Japan’s Rakuichi Broadband Solution Co, Ltd. Kensaku Matsumoto.

Under the agreement, four companies, namely Rakuichi Broadband Solution Co, Ltd., I-Point Co, Ltd., Sokurakuhonpo Co, Ltd., and At Work, will bring two refrigerated vessels to Vietnam to process and preserve ocean tuna, as well as provide food, petrol and necessities for fishermen at sea.

They will also transfer advanced fishing technology to Phu Yen fishermen, promote and export the joint venture’s products and build an ocean tuna trademark for Phu Yen province.

Phu Yen is the leading locality to develop the ocean tuna fishing industry, with a fleet of more than 690 vessels that can catch around 5,000 tonnes per year./.