The Philippine Star
October 10, 2024 | 12:00am
MANILA, Philippines — Agriculture Secretary Francisco Tiu Laurel Jr., Korea Agricultural Machinery Industry Cooperative (KAMICO) chairman Shin Gil Kim and Cabanatuan City Mayor Myca Elizabeth Vergara signed yesterday a memorandum of understanding (MOU) to establish the Korea Agricultural Machinery Industry Complex, the first local agricultural machinery manufacturing cluster.
The project will enhance agricultural mechanization across the country and help improve productivity and food security.
The MOU builds on a previous agreement witnessed by President Marcos on June 6, 2023, which focused on promoting agricultural mechanization through the establishment of a local machinery manufacturing cluster. Key components of this partnership include the creation of an assembly production line, research and development in agricultural machinery technology, workforce training and provision of Official Development Assistance.
President Marcos underscored the significance of this collaboration to boost agricultural productivity, particularly in rice supply and highlighted the Rice Competitiveness Enhancement Fund as a complementary initiative.
KAMICO aims to stimulate local manufacturing and distribution, enhance crop quality, increase farmer incomes and produce tailored agricultural machinery.
In support of the project, the City of Cabanatuan will provide the ideal location for the project, administrative assistance and exemption from local taxes, as well as ensure the presence of road networks, stable electricity connection, sufficient water supply, communication facilities and incentives to encourage labor supply.
Recognizing the critical need for agricultural equipment to improve the country’s mechanization levels, Tiu Laurel said the project would be integrated into the Department of Agriculture’s four-year plan, “Para sa Masaganang Bagong Pilipinas.” This plan prioritizes the acceleration of modernization in agri-fishery production systems to ultimately enhance productivity and resilience within farming and fishing communities.
The MOU signing coincides with the 75th anniversary of diplomatic ties between the Philippines and the Republic of Korea, and was attended by President Yoon Suk Yeol during his inaugural state visit to the Philippines.
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