Bobon: Investors have committed an initial PHP700 million to establish a 3.5-hectare coconut industrial park in Northern Samar, focusing on the province's primary agricultural product. Jhon Allen Berbon, head of the provincial economic development and investment promotions office, revealed that in a recent meeting, investors Stephen Chen and Alex Lao announced an initial investment phase of PHP200 million, followed by a PHP500 million second phase.

According to Philippines News Agency, 60 percent of the initial investment will be allocated to infrastructure, with the remaining funds divided equally between manpower and operational expenses. The industrial park is envisioned as a comprehensive processing facility, producing various coconut-based products, including coconut water, milk, oil, charcoal, and fiber. The facility will require 300,000 coconuts daily, with its development initially focusing on essential infrastructure, personnel hiring, and operations establishment.

Planned for Bobon town, the industrial park will emphasize processing, manufacturing, and exporting coconut-based products. To sustain its operations, the park will need 5,000 hectares of coconut plantations. Berbon highlighted Northern Samar's strategic advantage due to its vast coconut resources, producing between 350,000 to 400,000 metric tons of coconuts annually, with 84,000 hectares dedicated to coconut farming.

Northern Samar ranks as the 18th largest coconut producer in the Philippines, with a 2023 yield of 315,000 metric tons, as reported by the Philippine Coconut Authority. Despite the province's significant coconut production, it faces limited competition, hosting only one oil mill, one coco-sugar producer, two virgin coconut oil producers, and three coco coir producers. The province is home to 86,000 registered coconut farmers, including landowners, workers, and tenants.