PH gets $1.5-B additional investment from Thai firm

Charoen Pokphand Group chairperson Soopakij “Chris” Chearavanont (L) and President Ferdinand Marcos Jr. (Photo from President Marcos’ Facebook page)

MANILA, Philippines — President Ferdinand Marcos Jr. announced that a Thai conglomerate committed to make an additional investment of $1.5 billion to the country.

Marcos made the pronouncement after meeting with Charoen Pokphand Group chairperson Soopakij “Chris” Chearavanont to discuss agriculture projects.

READ: PH expects additional investments from Thailand’s CP Group

“They have committed an additional US$ 1.5 billion in investments to the country, starting with a 10,000-hectare modernized mega farm,” Marcos said in a Facebook post late Wednesday night.

The President then attributed the development to his meetings at the sidelines of the Asia-Pacific Economic Cooperation Summit in Bangkok in 2022, as well as at Malacañan Palace in 2023.

“I am very pleased with his (Chearavanon) plans and commitment to expand their business operations here in the Philippines. I extend my best wishes to my friend Chris, the CP Group and their Philippine partners for continued success,” he said.

During his trip to Bangkok in 2022, the CP Group pledged $2 billion in investments in the Philippines, particularly in poultry and swine production.