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Malaysian dairy firm eyes investing $20 million in PH: Palace

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ABS-CBN News

MANILA - A Malaysian dairy company is looking to set up a farm to breed cattle for milk production, Malacañang said on Thursday. Farm Fresh Berhad will invest $20 million (around P1.1 billion at $1 = P54.56) and is also looking for 200 to 400 hectares of land for lease to raise 2,000 milking cows, the Palace said in a statement. Batangas and Laguna (specifically, the University of Philippines-Los Baños campus in Famy) were seen as possible locations, the Palace added.Farm Fresh is looking to begin operations by 2028 and employ around 200 local workers. The company is also currently building a 6,000 sqm. dairy processing facility in San Simon, Pampanga, Malacañang said. The $5-million facility is slated to be operational this year, and employ around 50 local workers.President Ferdinand Marcos Jr welcomed the idea of large-scale cattle raising in the Philippines for milk production.“In the Philippines, when you talk about the livestock, we talk about [hog] and chicken, we don’t talk about cattle. Maybe it’s time to introduce it to the market,” the President told Farm Fresh executives.“We are here to see what we can do to make the project successful,&quot; the President added.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/news/06/21/23/marcos-eyes-boosting-agriculture-production">Marcos eyes boosting agriculture production to lower food prices, reduce imports</a></li></ul>Meanwhile the ASEAN Business Advisory Councils of Malaysia and the Philippines have agreed to jointly conduct studies and create mentorship channels for the growth of agriculture, agriculture technology, and food security in the Philippines. They will also conduct studies on agri-preneurship business models and value chain development among small, medium and large farmers, enterprises, and government entities. The groups will also look at trade and investment opportunities in palm oil, rubber, fruits, poultry, agri-tech and other agricultural products and services of both countries.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/07/22/world-bank-urges-ph-to-hike-investments-in-agri">World Bank urges Philippines to hike investments in agriculture</a></li></ul>“Agriculture, again is of primary importance to the Philippines, and we are happy that we have partners who will help us with the biotech,” President Ferdinand Marcos Jr. said.The meeting took place as part of Marcos&#x27; three-day state to Malaysia organized by the Department of Trade and Industry (DTI). Marcos said he hopes the cooperation between the two countries will help government address problems faced by farmers like swine flu and the avian flu.“That is something that we are still having to work with,” Marcos said. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/27/23/marcos-gets-285-m-investment-pledges-in-malaysia-visit">PH gets $285-M investment pledges during Marcos Jr&#x27;s state visit to Malaysia</a></li>	<li><a href="https://news.abs-cbn.com/business/03/22/23/industry-group-laments-number-of-farmers-falling">Industry group laments number of farmers falling</a></li></ul><div>RELATED STORY:</div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/1dAPW--9tzU?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Batangas and Laguna (specifically, the University of Philippines-Los Baños campus in Famy) were seen as possible locations, the Palace added.