The Board of Investments (BOI) said it has started the preparation of a development roadmap for the plant-based food sector, beginning with an appraisal of the industry in partnership with the University of the Philippines.
The investment promotion agency of the Department of Trade and Industry (DTI) said that a six-month rapid industry appraisal (RIA) study will be conducted to better understand the industry’s status, performance, and prospects.
Results of the study, the BOI said, will serve as a solid foundation in the formulation of the roadmap.
“This is very timely as the COVID-19 pandemic has created a new culture of healthy eating that includes patronizing plant-based products,” said Dr. Shirley Guevarra, Dean of the UP College of Home Economics.
BOI Director for Resource-Based Industries Raquel Echague said this would support the Marcos administration’s policy direction toward strengthening the country’s food value chains to achieve food security.