Philippine Government Allocates P100M for Bamboo Industry Development in 2024

MANILA: In an ambitious move to enhance the domestic bamboo industry and promote innovations in bamboo architecture, the Philippine government plans to allocate over PHP100 million in 2024, despite facing budgetary challenges. Department of Agriculture (DA) Undersecretary Deogracias Victor Savellano disclosed in a Thursday interview that the allocation’s specifics are still under discussion, with the majority of funding expected to come from his department.

According to Philippines News Agency, the initiative aims to capitalize on the increasing global demand for engineered bamboo, a high-value product coveted by the construction industry. The effort is driven by the potential of the Philippine bamboo sector to tap into the multi-billion-dollar global market for engineered bamboo products. However, the Philippine Bamboo Industry Development Council (PBIDC), tasked with leading these development and promotion efforts, faces operational challenges due to a lack of dedicated funding.

The PBIDC, affiliated with the Department of Trade and Industry (DTI), is actively working on budget consolidation to implement the 2024 program. Additionally, after discussions with Senate President Miguel Zubiri, PBIDC Executive Director Rene Butch Madarang is optimistic about the passage of the Philippine Bamboo Industry Development Act, which would significantly expand the council’s mandate and provide a substantial budget for its operations. In preparation, the PBIDC is drafting a master plan for the sector and prioritizing inventory mapping of bamboo plantations to support private investment in bamboo product manufacturing.