RDC 8 conducts investment forum on jatropha

By Philippine Information Agency (PIA 8)
March 18, 2008

TACLOBAN CITY, Leyte  –  In response to the National Government’s thrust of developing renewable sources of fuel, the Regional Development Council of Eastern Visayas (RDC 8) is scheduled to conduct an Investment Forum on Jatropha for Districts I to III of the province of Leyte, on March 26, 2008, NEDA Director and RDC Vice Chair Buenaventura Go-soco, Jr., informed.

Director Go-soco said that the Investment Forum will be conducted at 1:30 to 5:00 o’clock in the afternoon at the RDC Conference Room, NEDA Building, Government Center, Palo, Leyte.

In the Philippines, there is currently much hype surrounding its production as a source of renewable fuel. Philippine President Gloria Macapagal-Arroyo has signed into law the Biofuels Act of 2006, RA 9637, which mandates a minimum one per cent biodiesel blend and five per cent bioethanol blend in all diesel and gasoline fuels.

To meet demand, the government is aggressively pushing for the cultivation of Jatropha, believing it to be one of the best candidates for future biofuel production. It is now being encouraged for farming in idle areas or as an intercrop to coconut and abaca which are both abundant in the Region.

Director Go-soco said that the Investment Forum will include the presentation of Jatropha and its prospects in Eastern Visayas by the Visayas State University, so that the participants will know the viability of Jatropha farming in the Region.

This will be followed by the presentation of KIBIO, a Korean company and its Investment initiatives in Region 8 on Jatropha production. It is based in San Roque, Northern Samar.

During the latest meeting of the Regional Development Council, the manager of KIBIO made a presentation for the members of the Council. It was there that the members requested for the Jatropha economics so that the farmers in the Region will better appreciate the idea of Jatropha farming.

Contract Growing Schemes of the company will also be presented and discussed, Director Go-soco said so that the participants will know how they will be able to know how they are able to help in the government’s thrust of developing Jatropha production in the country.