NextGen Day

The Board of Investments (BOI) has approved Iba Botanicals Inc.’s application for registration as a new export manufacturer of pure essential oils that will open in Zambales soon.

The project, which is expected to begin commercial operations in January 2022, was registered as a transitional SIPP under Republic Act 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, based on the “Export Activities” of the 2020 Investment Priorities Plan (IPP).

The plant has a capacity of 35,688 kg per year or 35.6 metric tons.

The company uses organic agricultural methods and is in the process of obtaining an international organic certification from a third party.

It will produce export products, most essential oils derived from ylang-ylang, vetiver, and elemi plants.

The company is expected to create 430 jobs in its fifth year of existence, owing to its strong potential for employment growth.

In the vetiver plantations in San Juan, Zambales, the company will employ up to 200 people directly from the community.

The project’s operation is expected to assist the country’s economy, with a predicted production of PHP245.28 million.

The initiative is planned to eliminate poverty in Region 3, or Central Luzon, which, as of September 2021, was rated third among the regions with the highest unemployment rate, at 8.8 percent.

Because the pandemic has impacted Filipino employment, the project will help to alleviate both through the creation of jobs that will be created during the project’s construction and commercial activities.

The corporation has performed extensive research and development to build demand for its products, which includes the establishment of trail plantation areas in order to produce sample products for testing and market development.

Essential oils are aromatic essences produced from plants, flowers, trees, fruits, bark, grasses, and seeds that are utilized in perfumery, personal and healthcare, pharmaceuticals, cosmetics, household care, and food and beverage sectors, among others.

Ylang-ylang (cananga odorata), lemon grass, patchouli, vetiver, castor seeds (castor oil), pili, eucalyptus (mint), malunggay, sampaguita, sambong, and ginger are some of the most commonly used essential oils in aromatherapy in the Philippines.

With the transformation of endemic farm products into higher value added items for export to global markets, the project can emit a scent of economic success, exporting 100% of its total production to the United States, Europe, and Asia.

It will generate essential oils for export to countries throughout the world, including India, Thailand, Malaysia, and Singapore.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---