Agriculture Secretary Francisco Tiu Laurel asked the Korea Agricultural Machinery Industry Cooperative (KAMICO) to start a trading facility managed by the Korea Agriculture Machinery Complex (KAMIC) in Luzon.
Tiu Laurel invited KAMICO to invest in the Philippines given the vast opportunities accorded investors under the CREATE Law.
The DA believes the KAMIC complex would revolutionize local practices from its array of advanced farm machinery. The DA said a possible site is Nueva Ecija province.
Tiu Laurel highlighted CREATE’s incentives including tax breaks and duty-free imports of equipment and materials. Finished products from KAMIC would also enjoy favorable tariffs.
The DA and the Korea International Cooperation Agency (KOICA) are collaborating to build an agricultural machinery institute in the Philippines to develop machineries specifically suited to diverse Philippine landscapes.
Discussions during the mission delved into developing solar-powered dryers with a massive drying capacity, crucial for the National Food Authority (NFA) to address current shortfalls in drying capacity.
Tiu Laurel will also participate in KAMICO’s upcoming Iloilo roadshow to showcase innovative machinery solutions.
