30 Korean firms plan to establish manufacturing facilities in PH » Manila Bulletin Business

Manila Bulletin Philippines

Breaking News from the Nation's leading newspaper

Tempo

Online Newspaper

Showbiz and Celebrity News

Sports News

World News
News Asia

30 Korean firms plan to establish manufacturing facilities in PH

Published

By Madelaine B. Miraflor

As much as 30 members of the Korean Agricultural Machinery Industry Cooperative (KAMICO) are eyeing to establish a manufacturing facility in the Philippines that would produce farm machineries and equipment.

Emmanuel Piñol

Agriculture Secretary Emmanuel Piñol

A statement showed that Agriculture Secretary Emmanuel Piñol is supportive of such plan. This, as it could support the Department of Agriculture’s (DA) move to mechanize the farm sector.

Right now, KAMICO is looking at a location in Batangas where it could potentially build the plant. To finalize this, KAMICO and some officials of the Department of Agriculture (DA) are set to meet with Batangas Governor Hermilando Mandanas.

KAMICO president Shin-gil Kim, as cited by Piñol, said the assembly plant will be located in a 50-hectare area tentatively in Malvar town and will house a Research and Development Center as well as a Training Center for farmers and equipment operators.

Piñol said the assembly plant is expected to be operational by late 2019 and will later be converted into a manufacturing facility.

A memorandum of agreement was signed on Tuesday to formalize KAMICO’s plan.

During the signing ceremony, Kim said the number of companies which will locate their assembly and manufacturing facilities in the Philippines could reach 50 by 2020.

It was in June when the DA started its engagement with some KAMICO officials, who then flew to the Philippines for a convention.

During the convention, Piñol invited the companies to relocate in the Philippines to cash in on the farm mechanisation program of the government.

Related Posts