BOI endorses Metro Pacific’s P 3.4 billion farm projects

Catherine Talavera - The Philippine Star
BOI endorses Metro Pacific�s P 3.4 billion farm projects
The One-Stop Action Center for Strategic Investments of the Board of Investments has granted green lane certificates of endorsement to two of Metro Pacific’s projects. These include a vegetable farm project located in Bulacan and a dairy farm project situated in Laguna. Photo shows Trade Undersecretary and BOI managing head Ceferino Rodolfo (center) awarding the Certificates of Green Lane Endorsement to Metro Pacific representatives for the firm’s dairy and vegetables farms. Also in photo (from left) are: BOI investment assistance executive director Bobby Fondevilla, Metro Pacific Dairy Farms Inc. and Metro Pacific Fresh Farms Inc. president and CEO Juan Victor Hernandez, MPDF and MPFF chief finance officer Reginald Angelo Gripal and BOI Investment Assistance Service director Ernesto delos Reyes.
STAR / File

MANILA, Philippines — The Board of Investments (BOI) has endorsed two agriculture projects of the Metro Pacific group worth P3.4 billion for greenlane processing.

In a statement yesterday, the BOI said its One-Stop Action Center for Strategic Investments (OSACSI) granted green lane certificates of endorsement to Metro Pacific Fresh Farms, Inc.’s (MPFF) Bulacan vegetable farm project and Metro Pacific Dairy Farms’ (MPDF) Laguna dairy farm project.

MPFF’s Metro Manila Greenhouse Vegetable Production Project will be a state-of-the-art complex of modern greenhouses. The project aims to promote sustainable farming practices and modern farming technology.

Located in San Rafael, Bulacan, the project is set to be the largest vegetable greenhouse facility in the country. The farm, which will produce high quality vegetables, is expected to start commercial operationa in the fourth quarter of 2024.

“By implementing modern farming practices such as Nutrient Film Technique hydroponics and Drip Irrigation systems, MPFF hopes to reduce the agriculture sector’s consumption of natural resources,” the BOI said, emphasizing that agriculture is the largest user of freshwater, accounting for 70 percent of global usage.

It said that MPFF’s sustainable farming project redefines agriculture by discarding conventional farming methods.

“The initiative aims to make fresh locally sourced organic produce available to Filipinos,” the BOI said.

Meanwhile, MPDF’s Integrated Dairy Farm Project will manufacture dairy products at a capacity of 30,000 liters per day.

The project expands local milk production capacity by 20 percent. Currently, local milk production stands at 26.3 million liters.

The dairy farm located in the municipality of Bay in Laguna is set to begin its commercial operations in the first quarter of 2025.

Its main objective is to replace imported milk with locally produced high-quality dairy products, which will help boost the country’s self-sufficiency.

“This initiative will address food security and value chain gaps by offering premium locally-produced products, demonstrating a shift towards efficient local substitutes,” the BOI said.

Trade Undersecretary and BOI managing head Ceferino Rodolfo recently awarded the certificate of endorsement to officials of MPFF and MPDF in a brief awarding ceremony on Nov. 30.

In February, the Office of the President approved executive order 18, which aims to hasten, simplify, and automate the permit and license application processes for strategic investments. The measure was officially launched in July.

Operating as the sole entry point for these investments, OSACSI will expedite the endorsement of the project’s permit and license procedures, ensuring the swift realization of strategic investments in the country.

Earlier BOI data showed that the government had approved 16 strategic investment projects worth P336.3 billion for greenlane processing as of the end of October.

Bulk or 11 of the approved projects fall under the renewable energy (RE) sector, consisting mostly of solar projects.

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