IB Projects to Source P3 Billion from Small, Micro Enterprises

Some P3 billion of goods and services will be sourced from micro and small enterprises (MSEs) by five projects approved by the Board of Investments (BOI) under the Inclusive Business (IB) model listing of the agency in 2018, the first full year of implementation of the policy.  These five projects are in agriculture and in tourism.  The sourcing deal will reach P3 billion third year of these projects commercial operations.  
IB is looked at as one of the most viable options in the development of a dynamic and more inclusive agricultural sector.  Three of the first five BOI approved IB projects are in agriculture.  These are by Cargill Joy Poultry Meats Production Inc. which invested on a P2.08 billion integrated dressed chicken processing plant; Millennium Specialty Coco Products, Inc. for a P994-million integrated coconut processing facility located in Panabo, Davao City which can process around 200 metric tons of fresh coconut daily and; Biotech Farms Inc’s P1.1 billion rice milling facility in Tantangan, South Cotabato which plans to source rice paddy for its milling operation from farmers in SOCCKSARGEN, Maguindanao and North Cotabato.