BOI backs 2 MPIC projects worth P3.4B
MANILA -The Board of Investments (BOI) has endorsed two projects of the Manuel V. Pangilinan-led Metro Pacific Investments Corp. (MPIC) worth P3.4 billion, recommending their inclusion in the government’s green lane scheme which fast tracks sizable investments projects.
The BOI, the Department of Trade and Industry’s lead investment promotion agency, said its One-Stop Action Center for Strategic Investments granted on Nov. 30 the green lane certificates of endorsement for the MPIC’s vegetable farm project in Bulacan and its dairy farm project in Laguna.
READ: Bongbong Marcos admin orders setting up ‘green lanes’ for strategic investments
The BOI said the Metro Pacific Fresh Farms’ (MPFF) Metro Manila Greenhouse Vegetable Production Project would be a state-of-the-art complex of modern greenhouses.
READ: Metro Pacific, Israel’s LR Group to build PH’s biggest vegetable greenhouse
“The project aims to promote sustainable farming practices and modern farming technology. It is the largest vegetable greenhouse facility in the Philippines, located in San Rafael, Bulacan. The farm is expected to start commercial operation in the 4th quarter of 2024, producing high-quality vegetables,” the BOI said.
Article continues after this advertisement“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,” it added.
Article continues after this advertisementREAD: Metro Pac, LR Group to build P2-B modern dairy farm in Laguna
Meanwhile, the MPDF’s integrated dairy farm project will manufacture dairy products at the rate of 30,000 liters per day, thereby expanding local milk production capacity, which currently stands at 26.3 million annually, by 20 percent.
“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,” said the BOI.
