CINEX Attracts Norwegian Company to Boost Sustainable Aquaculture Industry in Curaçao

CINEX Attracts Norwegian Company to Boost Sustainable Aquaculture Industry in Curaçao

Aquaculture Project: Fisheries

CINEX Attracts Norwegian Firm to Boost Sustainable Aquaculture Industry in Curaçao

In early 2023, CINEX established contact with Caribbean Sustainable Aquaculture (CSA), a Norwegian company renowned for its expertise in seafood exports and aquaculture. Reflecting Norway's global leadership in these fields, CSA has been successfully implementing fishfarming projects in Norway, Spain, Cape Verde, and Morocco.

Over the past year, with the support of CINEX's investor facilitation services and guidance, CSA engaged with local stakeholders, including government ministries, to understand Curaçao's unique landscape. This engagement included site visits in February to explore potential locations and meet with relevant parties.Recognizing the opportunities for local fish farming, including species like tuna and indigenous varieties, CSA aims to establish a new export sector and involve local fishermen through partnerships and training programs. CSA plans to use advanced sustainable aquaculture technology to transfer valuable knowledge to the local community, thereby creating numerous job opportunities. CINEX prioritizes investments that create employment and foster community engagement, making this initiative particularly appealing.

On Wednesday, May 15th, the Government of Curaçao, represented by the Minister of Economic Development, Mr. Ruisandro Cijntje, signed a Memorandum of Understanding (MOU) with CSA, represented by Board Member Mr. Eric Guichard. The projected investment for this venture is approximately $40 million USD, with an estimated creation of 500 direct jobs both at sea and on land.

CINEX is extremely pleased that the hard work over the past year has led to the momentous occasion of the signing of the MOU. The MOU signifies the beginning of a collaborative research phase involving organizations such as CARMABI, relevant ministries, and the Proteus project by Fabian Cousteau, with whom CSA has also signed an MOU. This collaboration
underscores the commitment of all parties involved to sustainable development in Curaçao. CINEX will guide this process every step of the way to ensure a successful investment project.