DAVAO CITY — Investors from the Chinese province of Hainan are planning to set up a coconut processing plant in Davao City, the first of various ventures and trade arrangements that were initially discussed in 2019.
Sebastian L. Angliongto, international relations committee chair of Davao City business chamber, said the potential investment will come from members of the Hainan International Export Cooperative Association (HIECA).
He said HIECA’s international relations committee chair has informed him that the investors are considering operations like making charcoal, oil, juice, and other coconut products for export to China.
“Hainan investors will come to Davao City to invest in the fruit processing plant and export the finished products to Hainan,” Mr. Anglionto said in a phone interview last week.
Other ventures being considered involve other tropical agricultural products shared by the two partner regions. Hainan’s main crops include coconuts, rice, sisal, and tropical fruits.
Over the long term, the Chinese businesses are considering an industrial park and other real estate investments. — Maya M. Padillo