THE Board of Investments (BOI) has approved a P36.4-million agribusiness project to produce malunggay for export by Mauswag Agribusiness Inc.
In a statement on Wednesday, the investment-promotion agency said the project qualified under the present Investment Priorities Plan (IPP), which covers manufacture of nontraditional export products. The IPP is a list of priority investment activities that may be given incentives, according to the Department of Trade and Industry, BOI’s parent unit.
The agribusiness started operations in April 2017, employing 56 personnel initially and expects to bring this up to a hundred in five years. The annual production capacity of Mauswag Agribusiness’s facility in Camarines Sur is estimated at 49,500 kilos.
The integrated facility involves the planting of Moringa oleifera and processing it into powder form. The moringa powder will then be sold to domestic markets, such as pharmaceutical companies, natural health products manufacturers, bakeries and supermarkets, as well as to be exported to countries such as Japan, South Korea, the United States and Europe.
In its operations, the firm will be using Heating, Ventilation and Air-Conditioning, or HVAC, technology that can process 1,500 kilograms of raw leaves every 48 hours.
The technical details and processing procedure is the enterprise’s proprietary assets. The company said it plans to patent the procedure to safeguard their interests and efforts in developing the technique.
