Metro Pacific Agri Ventures (MPAV), a subsidiary of conglomerate Metro Pacific Investments Corporation with investments in infrastructure, tolls, power, and water, was awarded a green lane certificate of endorsement from the Philippine Board of Investments (BOI). Green lane certificates empower investors with speedy and automated processing of strategic investment permits and licenses. The government initiated this project in July 2023 under Presidential Executive Order 18.
MPAV’s projects for green lane processing include its subsidiaries, Metro Pacific Fresh Farms, Inc.’s (MPFF) Bulacan vegetable farm project and Metro Pacific Dairy Farms’ (MPDF) Laguna dairy farm project. The former will be a cutting-edge complex of modern greenhouses that use sustainable farming technologies, including Nutrient Film Technique hydroponics and Drip Irrigation systems to grow high-quality vegetables. The project’s commercial operations will begin in the fourth quarter of 2024. It intends to reduce the agriculture sector’s use of natural resources, particularly freshwater, and to provide organic vegetables for local consumption. The plant will be located in San Rafael, Bulacan Province, north of Metro Manila.
The latter project is an integrated dairy farm extension aimed at producing dairy products at a capacity of 30,000 liters per day, up 20% from the present production capacity. It is scheduled to begin commercial operations in the first quarter of 2025. The plant, which is situated in Bay, Laguna province, south of Metro Manila, was recently purchased by MPDF through a 51% ownership share in The Laguna Creamery, which is still owned by a local company called Carmen’s Best Group. MPDF anticipates that the plant will be able to increase the country’s dairy self-sufficiency by substituting high-quality dairy products made locally for imported milk.
MPAV’s latest investment spree in agriculture is securing a 34.76% strategic stake in a major fully integrated coconut company, Axelum Resources Corporation, in December 2023. The partnership aims to capitalize on opportunities in the coconut industry and enhance the capabilities and competitive edge of Philippine coconuts in the global market.
MPIC aims to make agribusiness its fourth largest business after power, toll highways, and water. The corporation is also expanding into tourism.
The BOI has approved 16 strategic investment projects totaling P336.3 billion (USD 6.01 billion) for greenlane processing as of the end of October 2023, with the majority of the projects focused on renewable energy.
Source: Philippine Star
