Mon, 10 Aug 2020

BARMM approves '306M pineapple investment project in Lanao del Sur

Philippine Information Agency
24 Sep 2019, 00:38 GMT+10

MARAWI CITY, Lanao del Sur, Sept. 23 - The Bangsamoro Autonomous Region in Muslim Mindanao's Regional Board of Investments (RBOI-BARMM) has recently approved the registration of Wao Development Corporation (WDC) to establish a ₱306 million worth of pineapple packing plant to be located at the municipality of Wao in Lanao del Sur province.

Under a new management DOLE Philippines, WDC has infused fresh investment capital for the new facility to improve its packing process and maximize its packing capacity to about five million boxes per year. The said project is expected to employ 753 workers. The company will export 100 percent of its products to Singapore through DOLE Asia Holdings

Eshan Karl Mabang, RBOI-BARMM executive director, said putting up an investment in a less-developed area will allow the WDC to enjoy incentives from the government such as income tax holidays, duty-free importation on capital equipment, and other applicable incentives upon the start of the project's commercial operation.

The company is known for its Rainforest Alliance Certification, a compliance to international environmental standards. It also implements Corporate Social Responsibility activities related to health, and education, among others, which will benefit the people of Wao.

Next to banana, pineapple is the second most popular tropical fruit in the Philippines and one of its primary agricultural exports.

More than 75 percent of pineapple production comes from Mindanao, including those from Maguindanao and Lanao del Sur. Pineapples are processed into juice, jellies and jams, dried fruit, pineapple vinegar, and fruit cocktail.

RBOI-BARMM Governor Sukarno Baraguir said the approval of the WDC project "is a good sign that the Bangsamoro region is fast becoming an investment destination of choice by investors."

"We are bullish that more investors will come because of the sustainable peace that we are experiencing now. This will make the region a more conducive and competitive place for business," Baraguir said.

On September 17, the members of the RBOI Management Committee recently conducted a site visit at Barangay Banga in Wao, Lanao del Sur where the project will be implemented. (Bangsamoro Government)

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