BOI supports high-tech agriculture and food & beverage industries with incentives.: BOI agri incentives – F&B tech sector

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2. “F&B sector BOI support”
3. “BOI grants for technology in agriculture”

The Board of Investments (BOI) is driving innovation in the Philippine agriculture and food and beverage (F&B) sectors, offering incentives and support to high-tech agribusiness projects. At the recent 3rd F&B Modernization and Innovation Summit, BOI highlighted the opportunities for growth and development in these industries. With the Industry Development Program (IDP) and the CREATE Act, BOI aims to attract investments, create jobs, and enhance competitiveness in the local market. Through strategic interventions and incentives, BOI is positioning the Philippines as a hub for smart and sustainable industries, promoting innovation and growth in high-tech agriculture and F&B sectors. Join BOI in revolutionizing the agribusiness industry and contributing to economic recovery and growth.

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Are you interested in the future of high-tech agriculture and the food and beverage sectors in the Philippines? Well, you’re in luck because the Board of Investments (BOI) is leading the way in supporting these industries with incentives and strategic interventions. Let’s delve into how the BOI is backing high-tech agri and F&B sectors with incentives to drive innovation and growth.

At the recent 3rd Food and Beverage Modernization and Innovation Summit, the BOI highlighted the vast business opportunities and potential for innovation in the Philippine agriculture and F&B sectors. With a focus on fostering a robust industrial ecosystem, the BOI’s Resource-Based Industries Service (RBIS) emphasized the importance of the Industry Development Program (IDP) and the CREATE Act in attracting investments and creating jobs.

Division Chief Francis M. Peñaflor stressed the goal of the IDP to develop industries that enhance competitiveness and foster innovation in the local market. He also pointed out the incentives available under the CREATE Act, specifically targeting agribusiness projects. This initiative aims to position the Philippines as a regional hub for smart and sustainable industries.

Over the years, the BOI has registered numerous innovative agribusiness projects, ranging from irradiation facilities to drone spraying applications for crop protection. These projects not only drive technological advancement but also contribute to job creation and economic growth in the country. The BOI’s commitment to supporting the development of the local agribusiness industry was evident throughout the summit, showcasing the potential for growth and innovation in these sectors.

The CREATE Act, signed into law in 2021, provides significant tax incentives and benefits to businesses to stimulate economic recovery and growth. By leveraging these incentives and delivering strategic interventions, the BOI aims to drive innovation and growth in the high-tech agriculture and F&B sectors, ultimately positioning the Philippines as a competitive player in the global market.

The summit organized by Mykar Events served as a platform for industry stakeholders to discuss state-of-the-art technologies, eco-friendly solutions, and digital innovations in the F&B sector. With a focus on automation and production efficiency, the summit aimed to enhance food security and quality in the industry.

In conclusion, the BOI’s efforts to support the high-tech agriculture and F&B sectors through incentives and strategic interventions are crucial in driving innovation and growth in these industries. With a focus on creating a competitive industrial ecosystem and attracting investments, the BOI is paving the way for a brighter future for the Philippines. So, if you’re interested in the future of high-tech agriculture and the F&B sectors, keep an eye on the BOI’s initiatives and the exciting developments in these industries.