PEZA registers Thai firm’s P1-B coconut venture at Phividec
MindaNews / 16 September – An affiliate of Thai World Group of Companies has been registered by the Philippine Economic Zone Authority (PEZA) for its P1-billion coconut venture located at the Phividec industrial estate in Tagoloan, Misamis Oriental.
Tereso Panga, PEZA director general, confirmed that PhilCo Food Processing Inc. was recently registered as an export enterprise at the Phividec Industrial Estate Economic Zone (Phividec ecozone).
“PhilCo’s entry signals a stronger push for agricultural and agro-industrial growth, while also empowering local coconut farmers by creating stronger market linkages and demand,” Panga said.
He underscored how investments of this scale can create a multiplier effect in the countryside, fueling both community livelihood and national competitiveness.
Panga and PhilCo director Buncha Punyatanakorn signed the registration and supplemental agreements for the firm’s coconut milk and juice production facility at the Phividec ecozone. The ceremony was witnessed by Thai World Group chairperson Peter Chan and PEZA Ecozone Development Department Manager Ludwig Daza.
PEZA announced that PhilCo has committed at least ₱1.1 billion in investments for the project, which is expected to generate over 700 jobs in the area.
Construction of the facility occupying about four hectares is already underway, with operations targeted to begin by late 2025 or early 2026.
PhilCo also signed a 20-year lease agreement with the PHIVIDEC Industrial Authority for their facility in Tagoloan town.
Panga said this milestone builds on earlier discussions between Philippine Coconut Authority administrator Dexter Buted and Thai World Group executives, where they explored opportunities for value-added coconut processing, sustainable agricultural practices, and supply chain efficiencies.
Thai World’s interest in tapping Mindanao’s vast coconut resources reinforces its nearly five decades of expertise in supplying high-quality Asian food ingredients to over 70 countries, positioning the Philippines as a strategic partner in the global coconut trade, PEZA said.
Coconut remains the top agricultural product in Mindanao over a five-year period from among 13 crops, according to data from the Mindanao Development Authority (MinDA).
In the “Mindanao in Figures 2024,” a MinDA publication showcasing the macroeconomic indicators of the island, coconut production reached 44.6 million metric tons (MT) from 2019 to 2023.
Dubbed the “tree of life,” coconut is consistently Mindanao’s number one crop in the five-year period, although production was down to 8.96 million MT in 2023 from 9.01 million MT the previous year. (Bong S. Sarmiento / MindaNews)
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