Thai group to invest $2B in PH
Charoen Pokphand Group (CP Group), Thailand’s largest agricultural corporation, is investing around $2 billion in the Philippines to produce pork and chicken for the local and export market in the next five years.
The investment plan was announced during President Duterte’s visit in Thailand, where he met with CP Group officials led by its chairman, Dhanin Chearavanont.
Chearavanont said his company wants to invest more in the Philippines because it is free of the foot and mouth disease and bird flu.
The President initially suggested the provinces of Bukidnon, Saranggani, North Cotabato, Maguindanao, Zamboanga del Norte, Agusan del Sur and Del Norte as the possible sites for the CP Group investments.
Agriculture Secretary Emmanuel Piñol, who was also present during the meeting, said CP Group wants to expand its operations in Luzon to Visayas and Mindanao, which have less threats of typhoons.
Piñol said the project would also mean good news to corn and soybean farmers whose products would be used as feeds for the pork and chicken.
An estimated 2,000 workers will be employed by the new CP Group operations.