BOI: Collab with DA yields P9.59B worth of agri projects

The Department of Trade and Industry’s Board of Investments (BOI) on Wednesday said it has approved over nine billion pesos worth of agricultural projects as part of its collaboration with the Department of Agriculture (DA).

In a statement, the BOI said a total of P9.59 billion in projects were approved by the investment promotion agency which was endorsed by the DA as Tier II agri-based projects under the 2022 Strategic Investment Priority plan under the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) Act.

"The synergy between the BOI and the DA is already yielding significant benefits as these projects will certainly drive the adoption of new technologies and enhance food security in the Philippines—ensuring the sustainability and resilience of our agricultural systems,” said Trade Secretary Alfredo Pascual.

The BOI said the DA endorsed the projects, “recognizing their potential to ensure competitive food security and support sustainable agriculture.”

The agency cited Metro Pacific Dairy Farms Inc.’s facility in Bay, Laguna as one of the notable projects approved in collaboration with the DA.

The project is an integrated dairy farm and processing facility capable of producing more than nine million liters of dairy and plant-based beverage products annually. 

The BOI said the Metro Pacific Dairy farm facility, which would utilize artificial intelligence and state-of-the-art equipment supported by a solar power plant, will be able to produce four times the average milking yield of the local industry.

Another project cited was Metro Pacific Fresh Farms Inc.’s facility in San Rafael, Bulacan, which is seen to produce 1,620 metric tons of vegetables annually. 

The project, the BOI said, is in collaboration with Innovative Agro-Industry (IAI), an affiliate of Israel's LR Group, and will leverage technologies developed to cultivate high-quality vegetables even in challenging desert climates. 

The project will utilize the Nutrient Film Technique (NFT), a hydroponic method for leafy greens that maximizes productivity while minimizing water and nutrient use.
 
The agency also cited SL Agritech Corporation’s planned facility in Tabuk City, Kalinga which is poised to become a producer of hybrid rice seeds and palay.

The BOI said SL Agritech’s facility will have an annual capacity of 17,500,005 kilograms of hybrid rice seeds and 3,500,000 kilograms of palay. 

The agency said the use of hybrid rice technology is expected to help local farmers increase their production and remain competitive against imported rice.
 
In Tagoloan, Misamis Oriental, the BOI said Vifel Ice Plant and Cold Storage Inc. will establish a cold and dry storage facility with a capacity of 5,824 pallets (2,125,760 pallet-days) for cold storage and 2,606 pallets (951,190 pallet-days) for dry storage. 

Moreover, Chick Haven Inc., the agency said will operate a hatchery facility in Toril, Davao City, with an annual capacity of 18,247,680 eggs.

The BOI said close coordination with lead agencies such as the DA helps in promoting the growth of the agricultural sector.

The agency said it aims to position the Philippines as a regional hub for globally competitive, innovative, and sustainability-driven industries. —NB, GMA Integrated News