The Department of Agriculture (DA) and the Korea Agricultural Machinery Industry Cooperative (KAMICO) have signed a memorandum of understanding (MOU) to establish the Philippines’ first agricultural machinery industry complex. The complex will be located on a 20-hectare site in Cabanatuan City and is set to focus on the assembly and manufacturing of agricultural machinery, including tractors and seeders.
The partnership aims to reduce the cost of agricultural machinery by producing locally tailored equipment suited to the country’s environmental and geographical conditions. The project is expected to create job opportunities and contribute to the development of the local agricultural sector. The establishment of the Korea Agri Machinery Industry Complex (KAMIC) is projected to span 10 years, with four implementation phases, including the introduction of 20 to 30 companies focused on assembly, manufacturing, and research and development.
(Source: Philippine News Agency)
