DAVAO CITY—A Dole Philippines-managed plantation in Lanao del Sur is investing P306 million to put up its own packing plant, the biggest investment to come so far for the fledgling Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
The BARMM’s Regional Board of Investments (RBOI-BARMM) disclosed its recent approval of the registration of Wao Development Corp. (WDC) to establish a pineapple packing plant in the municipality of Wao in Lanao del Sur province
The company told the RBOI that the fresh investment capital from its new management, Dole Philippines, would improve its packing process and maximize its packing capacity to about 5 million boxes per year.
The company will export its products from the Wao plantation to Singapore through Dole Asia Holdings.
The project will employ 753 workers.
With the project site classified as a less-developed area, the company will be allowed to enjoy incentives from the government, such as income tax holidays, duty-free importation in capital equipment, and other applicable incentives upon start of the project’s commercial operation, said Eshan Karl Mabang, RBOI-BARMM executive director.
The RBOI said the company was a holder of a Rainforest Alliance Certification, attesting to compliance with international environmental standards. It said the company’s corporate social responsibility activities were related to health and education, which would benefit the people of Wao.
The RBOI said pineapple is the second most popular tropical fruit in the Philippines next to banana. More than 75 percent of pineapple production comes from Mindanao, including those from Maguindanao and Lanao del Sur. Pineapples are processed into juice, jellies and jams, dried fruit, pineapple vinegar and fruit cocktail.
RBOI-BARMM Governor Sukarno Baraguir said the approval of the WDC project “is a good sign that the Bangsamoro region is fast becoming an investment destination of choice by investors.”
“We are bullish that more investors will come because of the sustainable peace that we are experiencing now. This will make the region a more conducive and competitive place for business,” Baraguir said.
On September 17, the members of the RBOI Management Committee conducted a site visit at Barangay Banga in Wao, Lanao del Sur, where the project will be implemented.