MANILA, Philippines — The Board of Investments (BOI) has approved the grant of incentives to Ipolymer Solutions Corp., a local manufacturer of face masks, for its P9.6 million project in Caloocan City.
In a statement yesterday, the BOI said it approved Ipolymer Solutions’ application for registration as a domestic producer of face masks, which are considered essential in addressing the pandemic.
The company’s project was approved after complying with requirements for activities relating to the fight against the COVID-19 pandemic under the 2020 Investment Priorities Plan, which serves as the transitional Strategic Investment Priority Plan under the Corporate Recovery and Tax Incentives for Enterprises Act.
Ipolymer’s project will have an annual capacity of 13.2 million KN95 face masks and 26.4 million surgical masks.
“The country has been reeling from ramifications of the pandemic, exacerbated by the emergence of new variants. With the entry of another domestic player for the manufacture of facial masks, it is pivotal for the country’s capacity to cater to the rising demand of the public,” BOI chairman and Trade Secretary Ramon Lopez said.
Wearing face masks remains part of the minimum health protocols against COVID-19.
“Since the outset of the pandemic, the BOI has been at the forefront of harnessing the Philippine manufacturing capacity amid the present global health crisis, including through the repurposing project for personal protective equipment, disinfectants, and ventilators; and industrial coordination to ensure that oxygen is available across all hospitals in the country,” Lopez said.
The project is expected to increase the monthly production of face masks in the country by 3.3 million. However, it will be importing 100 percent of its raw materials requirement.
As increasing production of medical-grade face masks entails additional importation of raw materials such as non-woven fabric, BOI said the new project could help in efforts to encourage investments in the local production of these raw materials.
“This goes to show that we can make it happen in the Philippines, as the BOI has been the catalyst for a modern economy as we recover from the pandemic. Thus, we invite other mask-producing companies to invest here in the Philippines to further fill the gaps in providing more affordable critical PPEs to Filipinos,” BOI managing head and DTI undersecretary Ceferino Rodolfo said.
The BOI registered two projects in 2020 for the production of face masks, such as Sunwest Construction and Development Corp. in Marilao, Bulacan, which has a 15.6 million annual capacity, and Nagaland Development Corp. in Naga City with 2.4 million capacity per year.
“During these difficult times – be it natural calamities or global health crises the local capability to supply critical and strategic products such as medical-grade face masks is crucial and serves as a reminder of the importance of developing our domestic manufacturing industry,” Lopez said.