The Board of Investments (BOI) reported on Tuesday, July 9, that the government is crafting a strategic roadmap to propel the development of the domestic bioplastics sector.

In a statement, the Department of Trade and Industry’s (DTI) investment promotion agency said it aims to formalize the Philippine Bioplastics Industry Roadmap by the fourth quarter of this year.

The goal of this roadmap, the BOI said, is to position the Philippines as an appealing destination for companies operating in the biopolymer and bioplastic manufacturing space.

In shaping the new roadmap, the BOI said that a delegation from the Philippines sought inputs from South Korea, a major global player in biodegradable bioplastics production.

South Korea began the development of its bioplastics industry in 1993. 

By 2023, the country had achieved a production capacity of 320,000 metric tons, accounting for 15 percent of the global biodegradable bioplastics production, estimated at 2.18 million metric tons and projected to expand to 7.4 million metric tons by 2028.

“The feat of South Korea in developing its bioplastics industry was anchored on the policy support, multi-stakeholder coordination including key companies and prominent brands, robust testing, certification and labeling systems at par with global standards, dynamic consumerism and aggressive investments,” the BOI said.

Bioplastics are utilized in South Korea across sectors, including mulch films, fishing nets and gears, packaging, single-use plastics, rigids, textiles, and other industrial applications.

During their visit, the Philippine delegation toured the KTR testing laboratory and the KRICT Biodegradable R&D Facility. 

The BOI added that they also exchanged insights on best practices and policy approaches that have significantly facilitated the growth of South Korea's bioplastics industry.

Moreover, the BOI engaged in discussions with CJ CheilJedang. This South Korean firm has expanded its operations internationally, including investments in Indonesia to produce the biopolymer PBAT (polybutylene adipate terephthalate).

“This activity allowed the BOI to develop strategies for positioning the Philippines as an attractive destination for future investments from not only CJ but also other major Korean companies like LG Chem, SK Chemical, and Lotte Chem,” the BOI said.