Building a Stronger Agricultural Future: DA Secures Investment Talks with Korean Firms

In a major step toward modernizing Philippine agriculture, a delegation from the Department of Agriculture (DA), led by Secretary Francisco “Kiko” Tiu Laurel Jr., recently traveled to South Korea to explore investment opportunities with the Korea Agricultural Machinery Industry Cooperative (KAMICO). The discussions focused on the development of a groundbreaking project: a 20-hectare Korea Agriculture Machinery Industry Complex in Nueva Ecija.

Secretary Tiu Laurel emphasized the significance of the project in achieving President Ferdinand Marcos Jr.’s vision of a robust and modern agricultural sector. “This project plays a crucial role in realizing President Ferdinand Marcos Jr.’s vision of a modernized Philippine agriculture—one that ensures food security and uplifts the lives of our farmers,” said Tiu Laurel. He added that the initiative would not only drive technological advancements but also bring in foreign investments, create new jobs, and transfer innovative farming technologies to Filipino farmers.

A major highlight of the visit was the discussion of the Philippine government’s enticing investment incentives, which includeuu a six-year Income Tax Holiday and a reduced Corporate Income Tax rate—down from 25% to 20%—for qualified projects. These benefits aim to make the Philippines a highly attractive destination for agricultural machinery companies and investors.

Recognizing the importance of a detailed understanding of these incentives, KAMICO expressed interest in a follow-up meeting with the Department of Trade and Industry (DTI) in Manila. The goal is to fine-tune the specifics and ensure their member-companies can fully maximize the advantages offered.

The partnership between DA and KAMICO could be a game-changer for Philippine agriculturej, bringing it closer to a future where farming is more efficient, sustainable, and profitable for Filipino farmers.

Comments

The Hidden Cost of Poor Infrastructure: How It Undermines Philippine Agriculture

Agriculture remains a cornerstone of the Philippine economy, employing about 23% of the labor force. Yet, despite the sector’s importance, farmers continue to face systemic challenges—chief among them, inadequate infrastructure. From poor roads to insufficient irrigation, these gaps severely limit productivity, profitability, and resilience. 🚧 Infrastructure Gaps: A Barrier to Productivity One of the most pressing issues is the lack of farm-to-market roads. Without reliable transportation, farmers struggle to move their produce efficiently, leading to spoilage, higher costs, and reduced income. In Zamboanga Sibugay, for instance, the development of farm-to-market roads has been a strategic intervention to address these challenges by improving connectivity, enhancing agricultural productivity, and promoting rural development . Irrigation is another critical concern. Only a fraction of arable land is irrigated, making farmers vulnerable to erratic rainfall and droughts. Modernizi...

Top Trends in Philippine Agriculture: Innovations, Sustainability, and Growth in 2024

As of 2024, Philippine agriculture is undergoing significant transformations, driven by technological advancements, sustainability efforts, and evolving market demands. Here are some of the most prominent trends shaping the sector: 🌿 1. Sustainable and Organic Farming There’s a growing emphasis on sustainable and organic farming practices in the Philippines. Farmers are increasingly adopting eco-friendly methods such as organic fertilization, crop rotation, and water conservation techniques to enhance soil health and reduce environmental impact. 📱 2. AgriTech Innovations Technological advancements are revolutionizing Philippine agriculture. The integration of drones for crop monitoring, automated irrigation systems, and precision farming tools is helping farmers increase efficiency and yields. 🌆 3. Urban and Vertical Farming With rapid urbanization, urban and vertical farming are gaining traction in the Philippines. These methods allow for year-round food production in li...

From OFW to Successful Aquapreneur: How a Bilar Fish Farmer Found Success in Ulang and Tilapia Farming

In the heart of Bilar, Bohol, a remarkable transformation is taking place — a former overseas worker, now a thriving fish farmer, is showing how innovation, training, and hard work can turn dreams into reality. Recently, Ms. Dalagan , a beneficiary of the Aquabiz School-Technology Business Incubation (ABS-TBI) project, successfully completed her second production cycle, harvesting 50.75 kilos of giant freshwater prawn (ulang) and a staggering 938.25 kilos of tilapia . Her aquaculture venture, set on two ponds totaling 1,400 square meters , flourished over just four months , using advanced techniques and a complete Package of Technology (POT) developed for tilapia-ulang polyculture. Cultivating Success with Technology The farming journey wasn’t just about placing fingerlings in water — it was science-backed and technology-driven. Key performance results included: Feed Conversion Ratio (FCR): 7.29 for ulang, 0.87 for tilapia Survival Rates: 41.23% for ulang, 46.91% for tila...

Pinoy Farmer

Search This Blog