VIRGIN COCONUT OIL EXPORTER GETS BOARD OF INVESTMENTS APPROVAL

The Board Of Investments (BoI) approved the P56-million project of a Bulacan-based food manufacturing company as a new export producer of virgin coconut oil (VCO).  The 2017 Investment Priorities Plan, approved in February this year, places agriculture and agro-processing as one of the preferred activities for investment.  

In a statement released by the investment arm of the Department of Trade and Industry (DTI), BoI said Rizal VCO Phils. Corp.’s project which qualified under the export activities list of the 2017 Investment Priorities Plan is expected to annually produce 748,800 liters of VCO at its Bocaue plant.  Rizal VCO started operations in August with 15 workers to produce VCO which will be used as raw material for cosmetics and personal care products.  The new company is eyeing Bahrain, United Arab Emirates and Qatar as its target markets.