PHIVIDEC Industrial Authority welcomes PhilCo Food Processing, Inc., affiliate of Thai World Group, with landmark lease signing

The PHIVIDEC Industrial Authority (PIA) proudly
announces the signing of a transformative 20-year lease agreement with PhilCo Food
Processing, Inc. (PhilCo), an affiliate of the esteemed Thai World Group of companies, on April 11, 2025.
This milestone event, held at the PHIVIDEC-IA Complex, marks a significant Thailand-driven investment in the PHIVIDEC Industrial Estate-Misamis Oriental (PIE-MO),
strengthening economic ties between the Philippines and Thailand.
PhilCo, pending its Securities and Exchange Commission (SEC) registration, 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).
The company will lease a 39,596-square-meter greenfield lot in Mohon, Tagoloan to establish a cutting-edge facility producing 78,000 tons of ultra-high temperature coconut milk annually, all for export.
With an initial rental of P6.335 million per year, escalating five percent 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, PIA 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.” Significantly, PhilCo plans to source 500,000 mature coconuts daily from North Mindanao farmers, bolstering the region’s agricultural economy.
The project aligns with the Philippine Economic Zone Authority’s (PEZA) approval on March
28, 2025, granting PhilCo six years of income tax holiday and other tax incentives under
the CREATE MORE Act.
Construction is slated to begin by October 2025, with commercial operations targeted between December 2025 and January 2026.
Sackchai Wongmalasith, president of Thai World Group and Buncha Punyatanakorn, director
of PhilCo, shared their excitement: “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.”
The agreement includes Lucky Force as a co-lessee and guarantor until PhilCo secures its SEC registration, ensuring financial stability.
“This collaboration showcases the power of
international investment to drive local prosperity,” Bernedo added. “It’s a testament to
the synergy between Thai enterprise and Philippines potential.”