Agri machinery assembly project with S. Korea underway — DA

 

MANILA, Philippines—The Department of Agriculture (DA) on Tuesday reported that it has started establishing an agri-machinery assembly center with a Korea-based agricultural cooperative.

In June 2023, the DA and the Korea Agricultural Machinery Industry Cooperative (KAMICO) signed a memorandum of understanding that will create the assembly center. “This is the result of the Memorandum of Understanding (MOU), signed last year, between DA and KAMICO that aims to set up the Korea Agricultural Machinery Manufacturing Cluster in the country,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. said in a release on the DA’s official Facebook page.

The project, which has an initial investment value of US $30 million, or P1.6 billion, will produce Korean agricultural machinery in the country and will have three phases: establishment of the supply system, attraction and cooperation with companies, and technology transfer and export promotion.

Laurel added that the project will also induce better food security measures and will be of benefit to local farmers.

“The President also recognized the importance of mechanization, stressing that it would result in better yield, lower production cost, and competitive Filipino farmers,” Tiu Laurel said.

On March 7, KAMICO officials visited provinces in Luzon to check conditions of projects in Cabanatuan, Nueva Ecija, and Tiaong, Quezon.