The Board of Investments (BOI) has granted approval for agricultural projects totaling nearly P10 billion to bolster the country’s food security and resilience.
In a statement, the Department of Trade and Industry’s (DTI) investment promotion agency said the Department of Agriculture (DA) endorsed these agricultural projects, valued at P9.59 billion, as Tier II agri-based projects.
"We are transforming the agricultural sector in the Philippines," Trade Secretary and BOI Chairman Alfredo E. Pascual said on Wednesday, July 10.
"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,” he added.
Among the approved projects was the Metro Pacific Dairy Farms Inc.'s facility in Bay, Laguna. It is an integrated dairy farm and processing facility that can produce over nine million liters of dairy and plant-based beverages annually.
The facility is set to utilize dairy farming principles and techniques based on the Israeli model, incorporating artificial intelligence and state-of-the-art equipment powered by a solar power plant.
With these advancements, the BOI said the facility aims to achieve four times the average milking yield of the local industry.
In San Rafael, Bulacan, the Metro Pacific Fresh Farms Inc. will be producing 1,620 metric tons of vegetables annually.
This project, in partnership with Innovative Agro-Industry (IAI), an affiliate of Israel's LR Group, will employ technologies developed for growing high-quality vegetables in challenging desert climates.
The project will also utilize the Nutrient Film Technique (NFT), a hydroponic method for leafy greens that maximizes productivity while minimizing water and nutrient usage.
SL Agritech Corp. is also planning to become a new producer of hybrid rice seeds and palay in Tabuk City, Kalinga.
Once completed, the facility will be capable of producing 17.5 million kilograms of hybrid rice seeds and 3.5 million kilograms of palay annually.
The BOI 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, Vifel Ice Plant and Cold Storage, Inc. is set to build a cold and dry storage facility with a capacity of 5,824 pallets (2.1 million pallet-days) for cold storage and 2,606 pallets (951,190 pallet-days) for dry storage.
Additionally, Chick Haven, Inc. will operate a hatchery facility in Toril, Davao City, with an annual capacity of 18.2 million eggs.
Raquel Echague, Resource-Based Industries Service (RBIS) director, said these projects are expected to create thousands of jobs—both direct and indirect—in various regions of the country, as well as rural employment opportunities, and help increase farmers' incomes.
“Close coordination with lead agencies such as the DA greatly helps in promoting the growth of the agricultural sector as it improves understanding of the needs of the industry and the interventions that government should be providing,” Echague said.