In a landmark move that underscores the Philippines’ growing role in the global coconut industry, Thai Coco, a publicly listed company based in Thailand and a leading exporter of coconut products worldwide, is set to establish its first overseas manufacturing facility in Mindanao. This strategic expansion is poised to enhance the company’s production capacity and strengthen its position in the global market.
The official agreement for this high-impact investment was formalized today at the Anflo Industrial Estate (AIE) in Panabo City, Davao del Norte. The signing ceremony was led by Dr. Worawat Chinpinkyo, CEO and Managing Director of Thai Coco, and Mr. Ricardo Lagdameo, President of Damosa Land Inc., the developer and operator of the 63-hectare PEZA-accredited industrial park.
With an estimated investment of 430 million baht (Php 734 million), the upcoming facility is expected to begin operations early next year. Once operational, it will significantly increase Thai Coco’s production of coconut milk products, boosting the company’s capacity by over 60% to cater to the rising global demand for coconut-based goods.
The project has garnered strong support from the Mindanao Development Authority (MinDA), with Chair Secretary Leo Magno—represented at the signing by Asec. Romeo Montenegro—welcoming the investment as a transformative development for the region’s coconut sector.
“This strategic investment is a major boost to Mindanao’s coconut industry, adding significant value, creating local employment opportunities, and reinforcing our region’s role in the global coconut supply chain,” said Secretary Magno.
Mindanao is a powerhouse in the Philippine coconut industry, contributing more than half of the country’s total coconut output. The establishment of Thai Coco’s facility is expected to provide greater market access for local coconut farmers, stimulate industrial growth, and further solidify Mindanao’s resilience and competitiveness in the global coconut sector.
As Thai Coco takes this bold step towards international expansion, the move highlights Mindanao’s potential as a prime investment destination for agro-industrial ventures. With its rich coconut resources, strategic location, and government support, the region stands to reap long-term economic and developmental benefits from this partnership.
