PH wants to expand sourcing of local seaweeds
The Department of Trade and Industry (DTI) said it wants to expand the sourcing of local weeds, welcoming possible investments from an Argentinian investor.
Trade Secretary Ramon Lopez recently discussed with an Argentinian company Farmesa how to expand sourcing of local seaweeds.
This, as Farmesa currently has a plan to set-up a seaweeds processing plant in the Philippines.
If ever, the Philippines will be Farmesa’s first manufacturing operations outside Argentina.
Agustin Perez, Head of Farmesa’s International group, said that aside from the big potential of locally sourcing seaweeds, he finds the Philippines business environment stable and the economy very dynamic, which add on to his confidence in pursuing their growth story in the Philippines. He cited the country as one of the fastest growing economies in the world.
For his part, Lopez said that Farmesa’s expansion plans can bring them closer to both the source of their main ingredient seaweeds, as well as the market of their products in the Philippines and Asian region.