According to the Philippine "Star" reported on January 12, Davao City Investment Promotion Center officials recently revealed that the Chinese company Zhejiang Fangyuan Shipbuilding Co., Ltd. plans to invest 3 billion pesos in the local construction of aquaculture processing plants. The official said that the investment will cover 3,000 hectares. The factory will process the processed seafood into finished products and export it to China, or will create nearly 10,000 jobs to effectively promote the economic development of Davao City.