The Panamanian government has authorized Forever Oceans Panama, S.A. to invest $50 million in a fish farming project in Charco Azul Bay, Puerto Armuelles.

Aquatic Resources Authority (ARAP) administrator Flor Torrijos handed over the resolution authorizing the fish farming operation in an area of more than 58,000 hectares to company representatives, the Presidency reported.

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From the Panama Presidency’s statement:

January 16th, 2020. The Agricultural Cabinet, held this Thursday in Chiriqui, authorized the company Forever Oceans Panama, S.A. to invest 50 million dollars for the development of a fish farming project (mariculture) in Charco Azul Bay, an activity that will produce hundreds of jobs in the battered region of Puerto Armuelles.

The delivery was made during the Agricultural Cabinet Council held this Thursday in David, Chiriqui.

Flor Torrijos, indicated that with the authorization, the company begins the first phase of the project with the training of the personnel that will work in the place.

She said the project will generate a significant number of jobs for the inhabitants of Puerto Armuelles. The jobs will be for biology professionals, and others dedicated to fishing and administration.

She said that the company will install in the first stage two cages on a 58,000-hectare area, of which 20 percent is for production and the rest for the conservation and protection of marine species.

The ARAP administrator said that the installation of the cages will attract more fish species to the waters of the bay, which will benefit the artisanal fishermen.

The National Government seeks to reactivate the economy of the impoverished region of Baru, which also includes an investment of more than $18 million with the construction of the new pier in Puerto Armuelles, a sector forgotten by the last administrations.