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MANILA – The Malaysian government is currently in talks with the Philippines to put up a joint venture project to cater to the production of palm oil, the Department of Trade and Industry (DTI) announced.
In a briefing in Pasay City, Trade secretary Ramon Lopez said discussions with his Malaysian counterpart for a possible joint venture regarding a palm oil plantation in the Philippines are ongoing.
“When the representatives visited together with the Philippine delegation, may mga interest na gustong mag-joint venture dito, mag-operate dito,” he said.
Lopez said talks regarding the palm oil plantation began during the visit of President Rodrigo R. Duterte in Malaysia in November 2016.
“‘Yun ‘yung isang area na dini-discuss,” he told reporters.
To recall, President Rodrigo R. Duterte last year pushed for the development of some 80,000 hectares – including those occupied By the New People’s Army (NPA) – for palm oil plantation.
Lopez said, however, that the Philippines may start with an initial 200 hectares of land.
“We can start 200 to 300 hectares that has a potential for oil palm and eventually processing it to palm oil,” he said.
According to the Food and Agriculture Organization of the United Nations, palm oil plantations are ideal to be put up in hot areas with a lot of sunshine and plentiful rain. (GMA News)
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