Cotabato City—The setting up of a P515-million modern corn plantation in Datu Saudi Ampatuan (DSA), Maguindanao, has been given the green light by the Regional Board of Investments of the Bangsamoro Autonomous Region in Muslim Mindanao.
“The corn plantation, expected to generate employment to the locals, (will) be established in Barangay Kabingi of the town,” Eshan Karl Mabang, executive director of RBOI-BARMM, said on Friday.
On the same day, the RBOI-BARMM approved the application of the Maguindanao Corn Development–DSA I Corp., an agri-based company, to register with RBOI.
As a new investment, the MCD can avail of fiscal and non-fiscal incentives from the government under Executive Order 226, otherwise known as the Omnibus Investment Code of 1987.
Mabang said the MCD-DSA I Corp, a 100-percent Filipino-owned company, will be the first to modernize corn production in the BARMM by using total farming solutions through efficient management and the use of precision planting technology.
“Aside from the farmers earning from the corn produce, they will also benefit from the transfer of technologies and technical know-how, particularly the precision farming protocol,” he said.
“Most of MCD’s farming methods will be mechanized and technologically advanced,” he added.
The initial phase of the corn production project will be 2,000 hectares per module, which are estimated to produce about 32,000 metric tons of yellow corn with two croppings per annum.
Its initial operation is expected to generate 280 jobs, which will increase as the project expands to 20,000 hectares in five years.
Lamsan, Inc., a corn wet-milling company based in Sultan Kudarat, Maguindanao, will buy 100 percent of MCD’s corn produce on a pre-agreed price.
“This will address Lamsan’s increasing demand for corn,” Mabang said.
Apart from additional economic activities that would be created from the latest BARMM investment, such as the establishment of micro and small businesses in the area, the MCD, with its operational principle of “shared growth”, will also implement corporate social responsibility activities, such as reforestation, in support of environmental programs.
The firm will also assist farmers not covered by the mechanized farming scheme by providing them with farm inputs—such as seeds, fertilizers, and chemicals—at bulk acquisition price, training, and a corn buy-back arrangement at a favorable price.
Sukarno Baraguir, RBOI governor, said the presence of the project in a less-developed area, particularly in DSA, will be a good opportunity to expose the host communities to modern and sustainable farming.
“Aside from stimulating growth, this will also empower our farmers and help sustain [the] peace and development programs of the government,” Baraguir said.