Tagoloan, Misamis Oriental, Philippines — The recent signing of a lease agreement by a Thai-owned, Hong Kong based with the PHIVIDEC Industrial Authority (PHIVIDEC IA) is expected to significantly transform the country’s largest industrial estate and Region X.
PhilCo Food Processing, Inc. (PhilCo), an affiliate of the Thai World Group of companies, signed a 20-year agreement with PHIVDEC IA on April 11, 2025 at the PHIVIDEC-IA Complex to lease a 39,596 square meter greenfield lot within the PHVIDEC Industrial Estate-Misamis Oriental (PIE-MO) in Tagoloan, Misamis Oriental. With an initial rental of PHP 6.335 million per year, escalating 5% annually, this investment underscores the Philippines’ growing appeal as an industrial hub.
“This signing is a game-changer for PHIVIDEC and Northern Mindanao,” said Atty. Joseph Donato J. Bernedo, Administrator and CEO. “PhilCo, as part of the Thai World Group, brings world-class expertise that will create over 1,000 direct and 1,500 indirect jobs, uplifting local communities and coconut farmers.”
Pending its Securities and Exchange Commission (SEC) registration, PhilCo is wholly-owned by Lucky Force International Limited, a Hong Kong entity under the Thai World Group, led by Thai executives Sakaoduan Amornpura (President) and Buncha Punyatanakorn (Business Development Manager).
“As an affiliate of the Thai World Group, PhilCo is proud to partner with PHIVIDEC and PEZA to launch this sustainable, export-focused venture. This investment reflects our confidence in the Philippines as a strategic base, leveraging Thai World Group’s legacy in agricultural innovation,” PhilCo’s principals shared.
The agreement includes Lucky Force as a co-lessee and guarantor until PhilCo secures its SEC registration, ensuring financial continuity. “This collaboration showcases the power of international investment to drive local prosperity,” Atty. Bernedo noted. “It’s a testament to the synergy between Thai enterprise and Philippines potential.”
The company aims to establish a cutting-edge facility to produce 78,000 tons of ultra-high temperature (UHT) coconut milk annually for export. PhilCo plans to source 500,000 mature coconuts daily from Northern Mindanao farmers, bolstering the region’s agricultural economy. Construction is slated to begin by October 2025, with commercial operations targeted between December 2025 and January 2026.
The project aligns with the Philippine Economic Zone Authority’s (PEZA) approval on March 28, 2025, granting PhilCo six years of Income Tax Holiday (ITH) and other tax incentives under the CREATE MORE Act.
Since assuming office as PHIVIDEC IA as its Administrator and CEO, Atty. Bernedo and the PHIVIDEC IA team have rolled out essential utilities, support services, and key infrastructure needed to ensure the smooth and efficient operations of their various enterprises.
Foremost among these is PHIVIDEC IA’s flagship Mindanao Container Terminal (MCT) MCT Phase II expansion project which will double MCT’s berth length from 300 to 600 meters that will expand MCT’s container volume handling capacity or utilization rate from its current 350,000 twenty-foot equivalent units (TEUs) which was already exceeded in 2020, to over 2 million TEUs annually, with the expanded 900 meter quay, and at least eight ship-to-shore gantry cranes.
Another key initiative is the Bulk Water facility which is now undergoing construction. The initial phase will benefit 30-40 % of the 59 locators and 200 service providers within the 3,000 hectare PHIVIDEC Industrial Estate-Misamis Oriental. Once its dams are completed, it can extend its services beyond the estate to nearby municipalities, to as far as Cagayan de Oro City.
A key social service is the Pambansang Pabahay para sa Pilipino (4PH) Housing project within the estate at Zone 3, GK, Brgy. Sta Ana, Tagoloan, a joint project with the Department of Human Settlement and Urban Development (DHSUD) that aims to make 3,000 to 4,000 affordable housing units for qualified beneficiaries including Informal Settler Families, PHIVIDEC-IA employees, retired AFP Veterans, PHIVIDEC-IA locators, local communities, and interested individuals who wish to avail themselves of the housing program. The first of its 18 residential buildings is now under construction will have 20 residential units in each of its 12 floors.
Not the least, PHIVIDEC-IA is ramping up road expansions and maintenance this year to provide smooth transport and operations for its locators, and would also soon install a waste management facility to provide an environmentally friendly solution to the estate’s waste disposal concerns.
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