The Board of Investments (BOI) said it registered P75 billion investments in agribusiness from 2017 to 2023.
The investments in 170 agribusiness projects potentially generated around 23,000 direct jobs, the BOI said.
In the last five years, among the modern and innovative projects registered with the BOI were an irradiation facility using electron-beam technology, drone spraying application for crop protection, natural foliar fertilizers, modern urban agriculture projects powered by hydroponics, development of hybrid seeds and indoor, temperature-controlled tulip production, among others.
At the 3rd F&B Modernization and Innovation Summit, held from May 22 to 23, the BOI Resource-Based Industries Service said one of the priority industries for promotion and industry development includes high-tech agriculture.
The summit featured state-of-the-art technologies, eco-friendly solutions, and digital innovations including automation in the food and beverage industry which all aim to contribute to food security through production efficiency and quality enhancement.
