The Board of Investments (BOI) teamed up with the University of the Philippines-Manila (UPM) and the University of the Philippines-Los Baños (UPLB) to stimulate investment in locally-developed biofertilizers and herbal medicine technologies through a memorandum of understanding (MOU).
“This MOU will be a strategic tool to pursue all these opportunities through the promotion of the commercialization of the technologies already developed by UP Los Baños and UP Manila for biofertilizer and herbal medicines,” said BOI managing head Ceferino Rodolfo during the signing ceremony.
The partnership seeks to expedite technological initiatives by establishing a platform for technology transfer, investment promotion and collaborative efforts.
It highlights the importance of supporting Filipino innovation, emphasizing the potential of “Pinoy-made” products.
The BOI, as the country’s lead investment promotion agency, committed to providing incentives and pursuing collaborative projects to foster these industries’ development.
The initial phase of the collaboration will focus on investment roadshows in Regions 3, 6 and 10.
“We are formalizing our partnership with the signing of this MOU. The document reflects our shared commitment to the triple goal of advancing sustainable agricultural production, enhancing public health, and strengthening the local economy,” UPM vice chancellor for research Leslie Michelle Dalmacio.
The Institute of Herbal Medicines at UPM is responsible for overseeing the National Integrated Research Program on Medicinal Plants. The institute plays a crucial role in ensuring that Filipino consumers have access to safe, effective, and affordable natural medicines derived from the country’s abundant herbal resources.
Both UPM and UPLB will play an active role in promoting the commercialization of their technologies through their dedicated technology transfer and business development offices.
