With a P22-billion allocation, the Department of Trade and Industry hopes to boost the local bamboo industry and elevate it into an export-class sector.
Lopez added P10 billion worth of loans will be earmarked to plant 23,671 hectares of bamboo nationwide for 2021 and 40,000 hectares for 2022
RECOGNIZING the value of the bamboo industry as one the country’s top export draws, the government has allotted more than P22 billion for the sector’s industry’s development from 2021 to 2022.
Aside from being a major export product, bamboo is also valued for its wide industry applications, and ability to create jobs.
According to Trade and Industry Secretary Ramon M. Lopez, government agencies are implementing P594 million worth of projects while the Development Bank of the Philippines is willing to allot P10 billion in loans for this specific industry.
For 2022, more than P.1.4 billion worth of projects have been proposed.
Lopez added P10 billion worth of loans will be earmarked to plant 23,671 hectares of bamboo nationwide for 2021 and 40,000 hectares for 2022.
To help cooperatives, micro, small and medium enterprises (MSMEs), associations, and local government units (LGUs) conserve and empower the bamboo agri-business, the government made available its Shared Services Facilities (SSF) Program and other forms of technical assistance.
These projects will be spread all around the country, but the majority will be allocated to North and Central Luzon.
The government also has come up with the Bamboo Industry Roadmap 2020-2022 where the projects to be implemented are laid out in order to streamline the process of fulfilling the goals for the bamboo industry.
“By planting more bamboo trees to increase the supply of bamboo, we aim to create a source of livelihood for our people, especially in communities in the countryside near the areas where bamboo is being planted,” said Lopez.
The Department of Environment and Natural Resources also added bamboos to its National Greening Program. Through this, bamboos may be planted continuously and help in reforestation projects.
Business-wise, entrepreneurs are encouraged to participate in bamboo planting projects as many furniture makers and other manufacturers of bamboo-based products are in-demand now.
This will help give businesses a chance to earn more profit and help with the projects at the same time. (EFO)
Tags: #economy, #bamboo, #DepartmentOfTradeandIndustry