China has given the Vanuatu Government the keys to a new fish processing plant at Black Sands near Port Vila.
In accepting the keys the Vanuatu Prime Minister, Edward Natapei, says if Vanuatu can invest more of its resources in agriculture and fisheries, it will enjoy enough growth to allow it to confront its youth and unemployment issues.
He says that Vanuatu has had little benefit from its tuna resources despite the annual harvest from its waters of 40 million US dollars.
Mr Natapei says the arrival of the fish processor is timely because Vanuatu gets just a tenth of one percent from this resource, through licences, while foreign vessels land their catch in other Pacific states.
Under a agreement signed 4 years ago by the Vanuatu Government and the China National Fisheries Group Corporation, Vanuatu will have 41 percent of the shares and CNFC 50 percent in the processor.