The country now boasts a nautical highway which has significantly the transport of agricultural products from the Island of Mindoro to other parts of the country. It has been crucial to the development of agricultural and rural infrastructure in the Philippines. To connect the areas of Clark, Subic and Tarlac in Central Luzon, a number of modern highways and road systems have also been built. The Philippines has a various developments, coupled with the increasing popularity of agribusiness which has led to the development of the country’s agricultural industry.
About 15 percent of the Philippines’ national gross domestic product contributed in the country’s Agriculture, Fishery and Forestry sector. The projection from the International Monetary Fund puts the Philippines 2011 GDP growth rate at 5% having 7.5% in the first nine months of 2010. It is also expected in the Philippine Agricultural specialist from the University of Asia and the Pacific harvest from the final quarter of 2010 are likely to spill over the first quarter of 2011.
The recent labor market study, the data and statistics from “Project JobsFit: The Dole 2020 Vision” conducted by the Philippine Department of Labor and Employment or DOLE, predicts that the agribusiness will emerge as a key employment generator in the next five to ten years. In the Philippines Agribusiness sector a number of recent developments have already boosted investor interest in the industry. The local producer of farm goods was recently undertook P 1.7 billion worth of agribusiness projecs with the Chinese government of Guangxi States.
Philippines bio-fuel development int he Philippines is also attracting a large number of foreign and local investors. The country’s attractive investment sites for bio-fuel projects this is base to the Global Vice President of US based company Frost and Sullivan. To develop bio-fuels in the Philippines, the number of public and private sector initiatives have already been set-up. The number of foreign and local companies are already tapping into these industries and opening up the employment opportunities in Philippines agribusiness.
REFERENCE:
http://www.kittelsoncarpo.com/outsourcing-philippines/news-articles/bright-prospects-ahead-for-philippine-agribusiness
http://manilaofficespace.com/articles/2011/bright-prospects-ahead-for-philippine-agribusiness
