Politics

Thailand’s Charoen Pokphand weighing more PHL investments

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CPF-PHIL.COM

THAILAND’s Charoen Pokphand Group Co. Ltd. (CP Group) has expressed interest in investing in Philippine aquaculture and hog production, the Office of the President said in a statement.

The approach was made in a meeting in Bangkok between President Ferdinand R. Marcos, Jr. and the company, which is already a major investor in Philippine agriculture.

The Thai firm also expressed interest in projects developing the Philippine value chain to better link food production to consumers, the Palace added.

Mr. Marcos met with officials of CP Group officials on the sidelines of the Asia-Pacific Economic Cooperation Summit late Wednesday.

CP Group is Thailand’s largest private company with $2 billion worth of investment in the Philippines.

“The largest and the most significant Thai investment in Philippine Agriculture is Charoen Pokphand Foods Philippines Corp. (CPFPC), a subsidiary of Charoen Pokphand Foods Public Co. Ltd. (CPF),” the Palace said. 

CPFPC started operations in the Philippines in 2010 with a rented feed mill in Guiguinto, Bulacan.

Aside from shrimp and fish hatcheries, CPFPC has built one of the most modern aquaculture feed mills in the country, the Palace said. The feed mill produces feed for tilapia, catfish, milkfish, and shrimp.

The company made additional investments in 2012, it added.

Mr. Marcos pledged to improve the aquaculture industry, which he deems critical for achieving food security, according to the Palace statement.

Separately, Mr. Marcos touted his push for more public-private partnerships (PPPs) in meeting with Thai business executives, the Palace said.

“The centerpiece (program) is our private and public partnerships… this is something we feel we will need to encourage for the simple reason that it cannot be done just by the government,” Mr. Marcos was quoted as saying. “It’s something that we need to encourage to gain that synergy that we are all looking for as we find our way in the new economy.”

As of August, the government tallies 74 PPP projects in the pipeline, worth a combined P2.25 trillion. — Kyle Aristophere T. Atienza