Koronadal envisions to become the SOX coconut trade center
In the near future, the City of Koronadal hopes to become a SOCCSKSARGEN (SOX) coconut trade center. “We position Koronadal as a trading center,” Development Management Officer IV of the Investment Promotion Division Kirbe Mae Pacinabao enthusiastically told reporters at a recent press conference. The statement was made in response to the positive gestures made by Chinese investors during their meeting in Davao City with Mayor Atty. Eliordo U. Ogena, to which the latter agreed.
Pacinabao stated that the specific entrepreneurs they met with made it a priority to engage in coconut trading, despite the fact that they had many other businesses they wanted to establish throughout the country. She said that they felt investors’ willingness to build a coconut manufacturing company in the region as long as suppliers can supply their demand, which is around 1,000 tons per month, to ensure their return on investment in exchange for the large amount they have invested.
She also shared insights from venture capitalists, who stated that one of the main reasons for entering the said industry is that a large number of people in one of China’s provinces are becoming ill and dying from cancer as a result of unhealthy food consumption. Thus, such industrialists wanted to neither prevent nor create a solution to the alleged worsening situation by finding healthier and organic food substitutes; thus, they considered our coconut product here in our neighborhood because of its organic nature and good chemical compound based on their laboratory test.
Consequently, this is an indication that the region has a definite market for such a product; however, Pacinabao also fully understands that for the city to become an investment midpoint it has so much to contemplate in terms of the volume of coconut resources. She stated that Koronadal cannot do this alone because it has no sufficient production to deliver such a commodity.
While the city prepares for the massive funding, Pacibanao began collecting data from coconut planters while convincing coconut farmers not only from Koronadal but also from neighboring municipalities and provinces to go into coco farming. She went on to say that, in addition to fresh coconut fruits, financiers are eager to start a plant for cooking oil, virgin coconut oil (VCO), and coco vinegar. “Willing sila patindog planta for cooking oil, virgin coconut oil (VCO), and coco vinegar.”
In the meantime, according to Mayor Eliordo U. Ogena, the city sent a business proposal to Chinese investor Rene Young, a former President of the Beijing Chamber of Commerce and Industry. He went on to say that Mr. Young already had an idea about Koronadal because he had visited the city once before, particularly during the city’s charter anniversary, to attend one of the Department of Industry (DTI) Region XII’s programs.
The city, on the other hand, met Chinese stockholders through referrals from the Board of Investment (BOI). It is a national government agency under the DTI whose job is to connect investors with local governments.
Moreover, the Investment Promotion Division is a newly created division under the Mayor’s Office, with the primary function of scouting capitalists as collaborators of Local Government Unit (LGU) to provide developmental projects.