Thai CP Group Looking Into Investing in the PH

The biggest private Thai firm, Charoen Pokphand (CP) Group is looking to invest more in the Philippines, specifically in swine production, corn, rice, and aquaculture according to the Malacañang.

The Office of the Press Secretary (OPS) mentioned in a statement that company officials had a meeting with President Marcos and made the pledge.

“CP Group officials expressed interest in collaborating with the Philippines in swine, rice, corn, and aquaculture, as well as the development of the value chain of those industries to link them to local consumers,” mentioned the OPS.

CP Group has eight business lines which cover 14 business groups and currently has investments in the Philippines worth an estimated $2 billion. The biggest Thai investment in Philippine agriculture is from a subsidiary of Charoen Pokphand Foods Public Co. Ltd. (CPFPC), the Charoen Pokphand Foods Philippines Corp.

The OPS says that CPFPC (Agriculture) began operating in the country back in May 2010 in Guiguinto, Bulacan with rented feed mills. Then in 2012, the company made investments in agro-business and aquaculture. The company has fish and shrimp hatchery farms and has also established modern aquaculture feed mills that generate feeds for shrimp, milkfish, catfish, and tilapia.

In this meeting with the Thai conglomerate, Marcos mentioned that the government is looking for ventures through public-private partnerships to maximize the advantages of the global economy post-pandemic.

“The centerpiece is our private and public partnership and this is something we feel we will need to encourage for the simple reason that it cannot be done just by government,” stated President Marcos.

Source: Philstar