The Board of Investments (BOI) announced it would be inviting global investors in agriculture and food production sectors to invest in Bukidnon’s 40-hectare Industrial zone.
In a recent meeting with Bukidnon local government officials led by Governor Rogelio Neil Roque, Vice Governor Clive D. Quiño and First District Rep. Jose Manuel Alba, BOI Managing Head Ceferino S. Rodolfo said “this endeavor is very promising and we truly believe in Bukidnon’s potential to be a global food manufacturing hub.”
The BOI, through its Investments Assistance Service, said in a news statement issued on Monday that it facilitated the meeting which focused on the development and promotion of the Bukidnon Domestic Industrial Zone.
According to the investment promotion agency, in the meeting, the Provincial Planning and Development Office of Bukidnon presented the competitive advantages of the province and why the province would be an ideal location for a domestic industrial zone.
The BOI, in turn, said it committed to assist the local government in promoting the industrial zone by inviting possible developers and locators.
To realize this, Rodolfo said, “We are proposing to schedule a series of roundtable meetings with industry stakeholders and industrial zone developers in the next three months from January 2023 to solicit inputs and interests and ready the industrial zone for strategic promotions.”
The BOI managing head said the agency is looking at showcasing “this kind of investment opportunity” in international roadshows in countries like South Korea, who Rodolfo said, can potentially bring their food production facilities to Bukidnon.
Known as the food basket of Southern Philippines (Mindanao), Bukidnon has a “progressive” agriculture-based economy with products such as pineapple, tomato, coffee, rubber, cattle, and bamboo, the BOI noted.
“With high altitude, relatively flat land area, and consistently good weather, Bukidnon also boasts of its competitive advantages for the agri-industry,” the BOI said.
The investment promotion agency said the province is among the top producers of regular bamboo and “has the most abundant supply” of Asper of giant bamboo in the country.
Moreover, the BOI said Bukidnon’s “opportunity-driven infrastructure, including improved all-weather provincial road networks and enhanced barangay connectivity serve as facilitating factors for greater economic development.”
According to BOI, the province already hosts big players in the food production business, including Del Monte Philippines Inc., Republic Biscuit Corporation and Liwayway Marketing Corporation, which may help attract similar projects to consider Bukidnon as their investment destination.
The investment promotion agency also noted that the province’s main source of economic prosperity is its “rich” agricultural land and “thriving” commercial industry with export activities to other regions and to US markets.
“With agriculture, forestry and fishery as main economic drivers, Bukidnon is hailed as the 5th richest province in the country in 2022 by the Commission on Audit,” BOI said.