Cotabato City (September 27, 2019) – The Bangsamoro Autonomous Region in Muslim Mindanao’s Regional Board of Investments (RBOI-BARMM) has approved a ₱515 million worth modern corn plantation investment in Maguindanao.
The investment will be established at Brgy. Kabingi, Datu Saudi Ampatuan (DSA) town by the Maguindanao Corn Development (MCD)–DSA I Corporation, a 100 percent Filipino-owned agri-based company.
The initial phase of the corn production project will be at 2,000 hectares per module, which is estimated to produce around 32,000 metric tons of yellow corn with 2 cropping per annum. Its initial operation is expected to generate 280 employments and will increase as the project expands to 20,000 hectares in five years.
Eshan Karl Mabang, executive director of RBOI, said the MCD-DSA I Corp will be the first to modernize corn production in the BARMM by using total farming solutions through efficient management and the operation of precision planting technology.
“Aside from the farmers earning from the corn produce, they will also benefit from the transfer of technologies and technical know-how particularly the precision farming protocol. Most of MCD’s farming methods will be mechanized and technologically advanced,” Mabang said.
LAMSAN Inc., a corn wet milling company based in Sultan Kudrat, Maguindanao will buy 100 percent of MCD’s corn produce on a pre-agreed price. This is to address LAMSAN’s increasing demand for corn.
Apart from additional economic activities that will be created from said corn plantation such as the establishment of micro and small business in the area, the MCD, with its operational principle of shared growth, will also implement Corporate Social Responsibility (CSR) activities such as reforestation in support to environmental programs.
They will also assist farmers, who are not covered by the mechanized farming scheme, by providing them farm inputs like seeds, fertilizers, chemicals at bulk acquisition price, trainings and corn buy-back arrangement at favorable price.
Mabang said the MCD is qualified to avail of fiscal and non-fiscal incentives from the government under Executive Order 226, otherwise known as Omnibus Investment Code of 1987, as amended.
Sukarno Baraguir, one of the governors of RBOI, said “the presence of the project in a less developed area like DSA will be a good opportunity to expose the host communities to modern and sustainable farming. Aside from stimulating growth, this will also empower our farmers.” (Bureau of Public Information)
16,268 total views, 2 views today