Korea to bring in more companies for agri-mechanization investments
More South Korean manufacturing firms are coming in to the Philippines to invest in the development of the local agriculture particularly in mechanization.
Agriculture Secretary William Dar and Korea Agricultural Machinery Cooperative (Kamico) chairman Kim Shin-Gil recently inked a memorandum of understanding reaffirming both countries’ partnership to bolster agricultural mechanization.
Kamico has proposed to bring in about 30 agri-machinery companies to invest in farm equipment assembly and manufacturing.
Kim conveyed Kamico’s interest to strengthen the agricultural cooperation between the Philippines and Korea through its partnership with the DA.
“The increased agricultural mechanization would result in enhanced agricultural productivity so that the Philippines would be able to attain food security, raise the incomes of its farmers, and boost its capability to expand agricultural exports,” Kim said.
He said Kamico would invest in various manufacturing equipment such as tractors, rice transplanters, rice mills, tillers and plows, cultivators, greenhouses, agricultural product dryers, balers, and other equipment essential for the production of high-value crops, prevention of epidemics in livestock, among others.
The MOU seeks to promote the agricultural development of both countries in terms of mechanization and modernization.
This includes technical collaboration on research and development, capacity enhancement, and the establishment of agri-machinery manufacturing complex in the Philippines.
“This renewed partnership with Kamico poses a great opportunity for the Philippines as it paves the way for the Philippines and Korea to boost agricultural cooperation and to develop collaborative projects that will advance the Philippines’ agriculture sector,” Dar said.
Mechanization is one of the flagship programs that the DA and the Duterte administration is pushing for the agriculture sector.
The DA has been pushing for a standardized mechanization program as the country’s lack of access to efficient farm equipment and facilities has a great effect on the national post-harvest loss level, which averages at 16 percent annually.