NEWS
Benemerito seeks China coco grant
The municipality of Caramoan is among the first LGUs in the country to request assistance for the acquisition of machineries and equipment for coco processing under the Agreement on Economic and Technical Cooperation between Philippines and the People’s Republic of China.
Under the agreement signed during the State visit of President Hu Jintao to the Philippines in April 2005 China will provide a grant equivalent to US $2.5 million for projects that will be agreed upon between the Department of Trade and Industry (DTI) of the Philippines and the Ministry of Commerce of China.
Caramoan Mayor Francis Benemerito said his municipality is seeking to be the coconut processing center for Caramoan, Garchitorena and Presentacion which have a combined area of 28,291 hectares planted to coconut.
Caramoan seeks to acquire through grant various equipment with a total value of $ 682,750 under the China fund and the application is now being evaluated by the DTI.
Mayor Benemerito said since Caramoan has the biggest hectarage of coconut land among the three towns and since it had even been adjudged once as the No. 1 coconut producing town in the Philippines it is only logical that it should be given the opportunity to lead in the development of the coconut industry.
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