Press Release
November 19, 2008

ANGARA: INNOVATIVE STRATEGIES CAN BOOST RP'S AGRICULTURAL PRODUCTION

Sen. Edgardo J. Angara today has called on private corporations and companies to pitch in their share in addressing hunger and food security problems in the country by actively engaging in agricultural production by availing of the incentives and benefits offered by the government through Executive Order 721 - A.

"Tough times demand from us that we should be thinking outside the box. And that we must deviate from the business-as-usual mode by exerting extra effort in ensuring that in these bad times, we can provide our people with enough safety nets that can ensure food security," said Angara who chairs the Senate Committee on Agriculture and Food.

He added, "Through the Executive Order 721 - A, the government has provided the private sector an impetus to engage in our efforts toward food security and eliminating hunger."

Executive Order 721 - A, signed recently by the President, urges large corporations to provide the rice requirements of their respective employees either by engaging in the production of rice or by importing rice to meet their requirements.

Large corporations, as defined in the order, are those that have 500 employees or more and must have reported profit in the last four year prior to the issuance of the executive order. Corporations, with good standing, can engage in rice production or importation provided that it would not substantially affect their financial viability.

The Department of Agriculture (DA) shall develop a package of fiscal and non-fiscal incentives for the large corporations. The DA shall consult with the Departments of Agrarian Reform, Environment, and Finance and the Board of Investments regarding the package.

"By engaging the private sector, we might unlock substantial idle land assets that can contribute to our country's agricultural productivity. Adding to this the resources and investments that they can pour in to our agri sector," added Angara.

Executive Order 721-A, an amendment of EO 721, seeks to ensure the adequate supply of rice in the country and that limited supply is distributed to people who need it most.

Angara, who is a former Secretary of the Department of Agriculture (DA) from 1999-2001, currently chairs the Senate Committee on Agriculture and Food and the Congressional Oversight Committee on Agricultural and Fisheries Modernization (COCAFM). He has authored significant legislations in agriculture including the Agriculture Fisheries and Modernization Act (AFMA), a masterplan for agricultural modernization which other countries in Southeast Asia have adopted.

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