Thai conglomerate CP Group has pledged to make additional investments in the Philippines in aquaculture, rice and swine production, the Office of the Press Secretary (OPS) said yesterday.
The OPS said CP Group officials on Wednesday night met with President Ferdinand Marcos Jr. in Bangkok, Thailand, where the latter is attending the Asia Pacific Economic Cooperation (APEC) until November 19.
“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. CP Group is Thailand’s largest private company with a $2 billion investment in the Philippines,” the OPS said in a statement.
CP Group first operated in the Philippines in 2010 through Charoen Pokphand Foods Philippines Corp., a subsidiary of Charoen Pokphand Foods Public Co. Ltd., which was established in Bulacan in May 2010. In 2012, it expanded its operations and made additional investments in aquaculture and agro-business.
It now operates shrimp and fish hatchery farms, and built one of the most modern aquaculture feed mills in Bataan.
Its feed mill produces feeds for tilapia, catfish, milkfish, and its shrimp feeds for Vanamei and Manodon.
The President also met with Sabin Aboitiz, Aboitiz Group president and chief executive officer and APEC Business Advisory Council PH member, to seek increased partnerships and woo more investments.
Marcos talked of his administration’s plans to improve the aquaculture industry in the Philippines which, he said, is “significant to achieving food security, especially since fishing serves as an important livelihood for Filipinos.”
“(Aquaculture) is an area where the Philippines can do well… I really feel that we are missing an opportunity because we are a country with over 7,000 islands,” he said.
