Thai firm collabs with Damosa Land, pours in B400 M investments

To realize the establishment of a state-of-the-art coconut milk production facility to the Anflo Industrial Estate in Panabo City, Davao del Norte, further driving Mindanao’s economic growth, Damosa Land, a premier real estate and agro-industrial developer in Mindanao, announced that it sealed a strategic partnership with Thai Coconut Public Company Limited through the recent signing of a Memorandum of Understanding.

The MoU signing was attended by key representatives from both organizations, including Dr. Worawat Chinpinkyo, chief executive officer and managing director of COCOCO, and Pattara Tasjun, member of the board of directors and chief financial and information officer of COCOCO, alongside Ricardo “Cary” Lagdameo, president of Damosa Land and Lora Porras, AVP for Office and Commercial of Damosa Land.

“This partnership directly aligns with our mission to support local industries and stimulate sustainable economic development,” said Lagdameo. “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.”

Empowering local agriculture, trade

COCOCO, a global leader in coconut-based products, has committed an investment of approximately 430 million Baht for the development of the facility, enhancing COCOCO’s production capacity to meet the growing global demand for coconut milk while creating significant opportunities for local farmers and businesses to thrive within the region’s expanding agro-industrial ecosystem.

The MoU includes a 25-year land lease agreement at AIE, where COCOCO will establish the new production facility, set for completion by the first quarter of 2026.

 The facility will be strategically positioned to source raw materials from the local agricultural sector, ensuring that Mindanao’s coconut farmers benefit from consistent demand and growth.

Dr. Chinpinkyo noted AIE’s world-class infrastructure and strategic location that offer COCOCO numerous benefits, including access to abundant raw materials and reduced transportation costs. Likewise, he emphasized that this will also help boost the coconut industry in Mindanao by providing a ready market for the local produce.

“Our company will offer benefits for the Mindanao coconut farmers so I would like to give you, Anflo Industrial Estate and the government, our support,” Dr. Chinpinkyo stated.

By leveraging Mindanao’s natural resources and trade agreements such as the ASEAN Free Trade Area (AFTA), COCOCO aims to enhance its competitive edge globally while supporting the local economy.

 The company also plans to apply for special economic zone privileges under the Philippine Economic Zone Authority, which provide tax and investment incentives.

“Damosa Land’s ability to attract international investments like this demonstrates the strength of our vision for AIE as a catalyst for long-term economic development,” added Lagdameo. “We will continue to seek partnerships that bring technology, innovation, and jobs to Mindanao, creating a sustainable and inclusive economy for future generations.”

Boosting local employment

Moreover, the new facility is expected to generate substantial employment opportunities during construction and long-term operations, benefiting both skilled and unskilled workers in the area.

 Further, the project will also enable knowledge transfer, as local talent gains exposure to advanced production techniques and international best practices.

Aligned with Damosa Land’s commitment to sustainability, COCOCO’s operations will adhere to environmentally friendly practices and support the development of resilient, sustainable communities in Mindanao.

The investment is also expected to uplift surrounding businesses and infrastructure, contributing to the overall socio-economic improvement of the region.