The Mindanao Development Authority (MinDA) has initiated a program which would assist prospective investors in the Agriculture and Fisheries sector in Mindanao, including the preparation of feasibility and financial studies for bank financing.
The program is called ALALAI which stands for Assistance in Loan Access for Livelihood and Agri-Fisheries Industry which was launched last year to help local businessmen and investors in sourcing funds for their projects.
MinDA, through the late Chairman Abul Khayr Alonto, had forged a Memorandum of Agreement with the Development Bank of the Philippines (DBP) which involves the bank in the financing of projects identified and endorsed by the agency.
Among the areas of investments open for financing are:
1. Fish Cage Farming – MinDA is promoting Bangus fish cage farming including high value species like Grouper, Sea Bass, Snappers and even Lobsters. Several coves and bays in Mindanao have been identified as prospective Mariculture Parks where these fish cages could be situated.
2. Cattle Feedlot Fattening – To boost beef production in Mindanao, MinDA had initially engaged local experts to establish Cattle Feedlot Fattening facilities. This involves the purchase of local cattle, Australian steers and culled cows which are kept in the feedlot for at least 100 days before slaughtering.
3. Broiler Breeder Farm – MinDA encourages the establishment of Broiler Breeder Farms in Mindanao to support local poultry raisers who had been complaining of the poor quality of chicks they buy from sources outside the region and the stiff price.
4. Hog Breeder Farms – MinDA supports companies and groups who would like to establish Hog Breeder Farms in Mindanao as part of its long-term program to boost hog production and address the pork shortage in the country.
5. Feeds Processing Facilities – Feed mills producing poultry, livestock and aqua feeds are critical components of the food production program pushed by MinDA. Using local feed materials and taking advantage of its proximity to the production areas and the targeted buyers, feeds processed in Mindanao could effectively lower the cost of production.
6. High Value Fruits, Industrial Trees and Bamboo Farming – As part of the Green Mindanao Program, MinDA encourages investments in these areas. Among the high value fruits pushed by MinDA are Avocado and Jackfruit in the highlands.
Other investment areas identified by proponents will also be considered by MinDA.
Those interested to know more about ALALAI Program are encouraged to contact Ms. Melot Ginete at melot.ginete@minda.gov.ph or Ms. Helen de Castro, head of Investments Office the Mindanao Development Authority at helen.decastro@minda.gov.ph.
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