The Board of Investments (BOI) on Monday said a 40-hectare industrial zone in Bukidnon province was now ready to host investors, positioning it as a potential food manufacturing hub due to the availability of important facilities and proximity to key gateways.
The industrial zone located at Barangay Dicklum in Manolo Fortich, Bukidnon boasts of a complete access road, as well as power and water supply and perimeter fence.
According to the investment promotion agency of the Department of Trade and Industry, the industrial zone is also accessible to and from the Mindanao International Container Port and the soon-to-be operational Don Carlos Bukidnon Domestic Airport.
In a statement, the BOI said it would be “inviting global investors and businesses, particularly in the agriculture and food production sectors to invest in the industrial zone,” citing its competitive advantages.
The province was cited as a “progressive” agriculture-based economy with products such as pineapple, tomato, coffee, rubber, cattle and bamboo—indicating a perfect fit for food manufacturers looking for a close supply of these.
“With high altitude, relatively flat land area and consistently good weather, Bukidnon also boasts of its competitive advantages for the agri industry. The province is among the top producers of regular bamboo and has the most abundant supply of asper or giant bamboo in the country,” the BOI said further.
The government is planning a series of roundtable meetings with industry stakeholders and industrial zone developers in the next three months to solicit inputs and drum up interest.
“We are looking at showcasing this kind of investment opportunity in international roadshows in countries like [investors from] South Korea who can potentially bring their food production facilities to Bukidnon,” Trade Undersecretary and BOI head Ceferino Rodolfo said.
In 2022, the BOI approved P729 billion worth of investments, breaking a two-year streak of decline following a record year in 2019.
Data from the BOI indicated that its 2022 performance marked an 11-percent increase compared with the P655 billion investment approvals recorded in 2021. However, they were still lower than the levels seen in previous years.
The BOI’s approved investments stood at P1.02 trillion in 2020 and at P1.14 trillion in 2019. INQ