November 7, 2023

Philippines seeks Italian businesses' investments in agriculture industry

The Philippines' Department of Agriculture (DA) has extended an invitation to Italian private businesses to invest in the country, particularly in modernising facilities in the agriculture sector.

The invitation was made by Agriculture Senior Undersecretary Domingo Panganiban through Italian Minister of Agriculture, Food Sovereignty and Forestry Francesco Lollobrigid.

According to the DA, the high level of agricultural productivity in Italy can be attributed to its modern agricultural machine industry.

"In the Philippines, there is significant potential for agricultural mechanisation to support agro-industrialisation in the country. Hence, bilateral cooperation in this area can benefit both stakeholders," DA said.

The department added it is interested primarily in smart agriculture technologies, scaled-up mechanisation, commercial scale-oriented technologies, smart irrigation and water impounding or retention systems.

Panganiban met Lollobrigid in Rome for the World Food Forum Flagship Event of the United Nations' Food and Agriculture Organization (FAO) on October 17, wherein the Institute of Services for the Agricultural and Food Market (Ismea) presented its report on the Italian agri-food sector.

He also acknowledged the strong bilateral trade relations in agriculture between the Philippines and Italy.

Additionally, Panganiban expressed the DA's interest in collaborating with Italy on mainstreaming climate resiliency in agriculture through sustainable, climate- and disaster-resilient technologies, and adopting climate information services.

- The Manila Times