THE Regional Board of Investments of the Bangsamoro Autonomous Region in Muslim Mindanao (RBOI-Barmm) has approved the registration of Wao Development Corporation (WDC) to establish a P306-million pineapple packing plant.
Eshan Karl Mabang, RBOI-Barmm executive director, said the pineapple packing plant, which will employ 753 workers, will be located in the municipality of Wao, Lanao del Sur.
Mabang said the WDC has infused fresh investment capital for the new facility to improve its packing process and maximize its packing capacity to about five million boxes per year.
He said the WDC will export 100 percent of its products to Singapore through Dole Asia Holdings.
Mabang said putting up an investment in a less-developed area will allow the WDC to enjoy incentives from the government such as income tax holidays, duty free importation on capital equipment, and other applicable incentives upon start of the project’s commercial operation.
The RBOI-Barmm official said the company is known for its Rainforest Alliance Certification, a compliance to international environmental standards.
He said it also implements Corporate Social Responsibility activities related to health, and education, among others, which will benefit the people of Wao.
RBOI-Barmm Governor Sukarno Baraguir said the approval of the WDC project “is a good sign that the Bangsamoro region is fast becoming an investment destination of choice by investors.”
“We are bullish that more investors will come because of the sustainable peace that we are experiencing now. This will make the region a more conducive and competitive place for business,” Baraguir said.
He said the the members of the RBOI Management Committee conducted a site visit last week in the village of Banga, Wao, where the project will be implemented. (Bong Garcia/SunStar Philippines)