PH expects additional investments from Thailand’s CP Group
BANGKOK, Thailand – The Philippines is expecting additional investments from one of Thailand’s biggest business groups following a dialogue between company officials and President Ferdinand Marcos Jr.
Marcos met with officials of Thai conglomerate Charoen Pokphand Group (CP Group) in Bangkok, Thailand on Wednesday night.
The President is currently in Bangkok for the Nov. 17 to 19 Asia-Pacific Economic Cooperation (Apec) Summit.
CP Group has about $2 billion in investments in the Philippines, particularly in poultry and swine production.
It is keen on infusing additional investments other agricultural ventures, including aquaculture, and rice and corn production.
In a separate meeting with Aboitiz Group also on Wednesday, Marcos raised the significance of the country’s aquaculture sector in efforts to attain food security.
“[Aquaculture] is an area where the Philippines can do well… So that’s something that we are not doing a lot, and I really feel that we are missing an opportunity because we are a country with over 7,000 islands. I am sure that there are many places that are suitable for this kind of operation,” Marcos said.
“I think the timing is correct. There are many opportunities. I suppose the most important thing is that we are able to forecast a little bit, which direction the economy is going and how we in the Philippines or any other country position themselves to take full advantage of the new post-pandemic global economy,” he added.
Marcos reiterated his remark that the “centerpiece” of his administration’s bid to economic transformation was boosting ties between the public and private sectors.
“The economic transformation of the Philippines, 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,” he said.
As of August, the government has 74 public-private partnership projects in the pipeline with an estimated cost of P2.25 trillion.
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