A MAJOR coconut product manufacturer in Thailand and a homegrown real estate developer entered into a memorandum of agreement (MOA) on Tuesday, February 11, 2025, to establish a state-of-the-art coconut milk production facility in Panabo City, Davao del Norte.
The historic partnership, which will commence in the first quarter of 2026, aims to enhance the thriving coconut industry in the region, increase local production capacity to 155,000 tons per year, and promote Mindanao’s coconut products to the global market.
Thai Coconut Public Company Limited (CoCoCo) President Worawat Chinpinkyo and Damosa Land President Ricardo Lagdameo led the contract signing and the presentation of the facility to Davao and Thai-based media at the 63-hectare Anflo Industrial Estate (AIE), the country’s premier agro-industrial park.
The event was also attended by key representatives from both organizations, including the vice chairman of the Board of Directors, chief executive officer, and managing director of CoCoCo, as well as Miss Pattara Tasjun, a member of the Board of Directors and chief financial and information officer of CoCoCo.
In a move set to bolster the local economy and elevate Mindanao's standing on the global stage, Lagdameo emphasized the significance of the partnership with a leading international coconut company.
"This partnership directly aligns with our mission to support local industries and stimulate sustainable economic development," Lagdameo said. "By partnering with a global leader like CoCoCo, we are creating a valuable supply chain ecosystem that provides income and employment opportunities for the local community, while positioning Mindanao as a key player in the international market.”
Meanwhile, Chinpinkyo expressed optimism that the development of this investment will not only boost their company’s coconut production capacity but also address the growing global demand for coconut milk.
He noted that it would simultaneously create new opportunities for Mindanao farmers and businesses within the region’s expanding agro-industrial landscape.
He added that the strategic location of the facility, which relies on local agricultural resources to ensure a steady supply of raw materials from Mindanao’s coconut farmers, will foster economic growth and generate consistent demand for their products.
Currently, CoCoCo has made a substantial investment of around 430 million Baht, equivalent to roughly P738 million, and has secured a 25-year land lease agreement at AIE, where the facility is expected to be operational next year.
As the newest addition to AIE's growing roster of international locators, CoCoCo’s establishment of a coconut milk production facility underscores the region's growing importance as an agro-industrial hub. AIE now hosts 22 locators representing six countries across North America, Europe, and Asia, further solidifying its role as a global business destination. DEF
