THE Board of Investments (BoI) said it has approved the P391-million coconut processing plant project of Ahya Coco Organic Food Manufacturing Corp. and the P20.1 million business process outsourcing (BPO) project of Milenia Data Systems Inc.
“With growing demand for coconut products abroad, the country, as one the world’s largest coconut producers,
hopes to address such demand,” Trade Undersecretary and BoI Managing Head Ceferino Rodolfo said on Tuesday.
The projects fall under the production and manufacture of export products category of the current Investment Priorities Plan (IPP).
Ahya formally started operations in December 2016 with 396 employees. The facility is producing canned coconut milk (7,286 metric tons a year or MTPY), canned coco water (6,970 MTPY), virgin coconut milk (485 MTPY) and coconut flour (1,061 MTPY).
The company sources its coconut requirements from the farmers in Davao del Norte, Compostela Valley Province and Davao del Sur. It will export 100 percent of its products to the United States, China and Europe.
Exports of coconut products amounted to $1.41 billion in 2016, a .4-percent increase from $1.4 billion in 2015, according to the Philippine Statistics Authority.
Meanwhile, Milenia, a medical transcription business in Makati City, started operations in March 2017 with 23 employees and is projected to employ up to 88 personnel by the fifth year. It is expected to provide outsourcing services (through medical coding) to individual facilities of healthcare and rehabilitation centers in the United States.
Rodolfo said that the health information management (HIM) sector has been a great catalyst for the growth of the Information Technology-Business Process Management (IT-BPM) industry in recent years.
HIM is the practice of maintaining personal health information in hospitals or other healthcare organizations enabling the delivery of quality healthcare to the public. It includes the accumulation, storage and accuracy of patient data.
According to the Health Information Sectoral Roadmap 2016-2022, the Philippines is on course to hit about $5 billion in revenues, translating to 210,000 full-time employees by 2022. Revenues for the HIM sector in the country were estimated at $2.4 billion with 118,000 personnel in 2016.