The Board of Investments approved the application of Schmidt Konstruktion Systems Corp. as a new domestic producer of modular housing components.
The P13.7-million project met the requirements under the current Investment Priorities Plan.
Economic and low-cost housing, both horizontal and vertical, is among the preferred activities listed in the IPP.
This covers the development of economic and low-cost housing and the manufacture of modular housing components.
“The company, classified as a small and medium enterprise augurs well with the administration’s efforts to put the SMEs at the front and center, generating further employment opportunities for our countrymen,” said Trade Secretary and BoI chairman Ramon Lopez.
Lopez said with the government’s 10-point socio-economic agenda in full swing, the department expected more SME registrations in the future as the incoming IPP planned to expand the coverage of industry sectors to scale up productivity of SMEs with innovation-driven growth models.
The approved project involves the manufacture of modular housing components preferably using indigenous materials. These include roof/framing systems, wall/partition systems, flooring systems, door/window systems and finishing/ceiling systems. The locally-owned company started operations in November 2016 with 53 people in its payroll.
It is expected to supply wall and system requirements for houses intended for typhoon Yolanda victims in the Visayas in partnership with related government housing agencies, local government units and non-government organizations.
The company also aims to supply materials for military mass housing, schools for the Education Department and regional hospitals. Other targeted markets are property developers and construction firms engaged in socialized or mass housing.