The Board of Investments (BOI) announced on Monday that a 40-hectare industrial zone in Bukidnon province is now ready to welcome investors, positioning it as a potential food manufacturing hub due to the availability of critical infrastructure and proximity to key gateways.
The industrial zone in Manolo Fortich, Bukidnon, has a complete access road, as well as power and water supply and a perimeter fence.
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, according to the Department of Trade and Industry’s investment promotion agency.
The BOI said in a statement that it will “invite 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 described as having a “progressive” agriculture-based economy, with products such as pineapple, tomato, coffee, rubber, cattle, and bamboo—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 one of the top producers of regular bamboo in the country and has the most abundant supply of asper or giant bamboo,” the BOI added.
In the next three months, the government plans a series of roundtable meetings with industry stakeholders and industrial zone developers to solicit input and generate interest.
“We are looking at showcasing this type of investment opportunity in international roadshows in countries like [South Korean investors] who may bring their food production facilities to Bukidnon,” Trade Undersecretary and BOI head Ceferino Rodolfo said.
The BOI approved P729 billion in investments in 2022, snapping a two-year decline following a record year in 2019.
According to BOI data, its 2022 performance represented an 11% increase over the P655 billion investment approvals recorded in 2021. However, they were still lower than previous years’ levels.
The approved investments of the BOI were P1.02 trillion in 2020 and P1.14 trillion in 2019.
Source: https://business.inquirer.net/386429/govt-seeks-investors-for-40-ha-industrial-zone-in-bukidnon?fbclid=IwAR3k2k1erSDDYl7ttleMYBFAWc7GhMccqi0KAO1P_m4EZBRTpvO9P8UhCEc
