CAGAYAN DE ORO CITY—The Board of Investments (BOI) is looking for ways to transform Northern Mindanao's livestock industry at par with Association of Southeast Asian Nations (Asean) standards.
This was disclosed by BOI Investment Assistance Service director Raul Angeles, who pointed out that as Asean heads towards closer economic integration, the country's livestock industry should not be left behind in the scramble for one of the fastest-growing consumer markets in the world.
Angeles, who was in the city Wednesday to promote the 2017 Investment Priorities Plan for Region 10, cited the potentials of the region's "prolific" livestock industry, which is among the country's top producers.
Data from government agencies showed that Northern Mindanao has around 270,000 heads of cattle, 234,300 goats, 124,000 carabaos, and 899,200 hogs.
Northern Mindanao also ranked third among the chicken growers in the country, producing a total of 11 percent of 19,596,441 heads contribution to the national supply annually. The region is also the eighth top grower of ducks with a total of four percent or 444,064 heads produced annually.
Angeles said BOI has existing programs and technical assistance so that local growers can become more competitive and raise production standards.
He said the 2017 Investment Priorities Plan will serve as a blueprint in guiding Filipino and foreign investors in matching their entrepreneurial and financial capacities with the identified opportunities.
According to BOI, the government aims to steer the country’s economic growth "to a broader and sustainable path by maintaining the Philippines’ competencies while developing sectors with potential for inclusive growth by connecting micro, small and medium enterprises (MSMEs) to the global value chain." (PNA/Mark D. Francisco)