Thai giant agri firm to invest $2-B in the Philippines – DA Sec. Manny Pinol
BANGKOK: President Rodrigo Duterte did not go home empty-handed from his three-day state visit here in Thailand this week.
The Charoen Pokphand Group (CP Group), Thailand’s largest agricultural corporation, has pledged to pour out an estimated $2-B in the Philippines over the next five years in an effort to produce pork and chicken both for local and export market, according to Department of Agriculture Secretary Manny Pinol in his Facebook post on Thursday, March 23, 2017.
CP Group Chairman Dhanin Chearavanont, who also committed to donate an amount of P10- M for the president’s fight against drugs and for his rural development program, revealed his plans in a meeting with President Rodrigo Duterte at Mandarin Oriental Hotel in Bangkok.
According to the post, “Chearavanont said CP Group has decided to pour more investments in the Philippines because of its distinction as the only country in the whole of Asia which is free from Food and Mouth Disease and Avian Influenza or Bird Flu.”
“The hog and chicken production project of CP Group will be divided into 10 modules utilising about 6,000 hectares per module for the production of corn and soybeans to be used in its feed production,” it further stated.
If the plans push through, CP Group will employ at least 2,000 workers.
The provinces of Bukidnon, Saranggani, North Cotabato, Maguindanao, Zamboanga del Norte, Agusan del Sur and Del Norte were mentioned by President Duterte as the feasible areas to launch the said investments.
“This would mean a huge market for the country’s corn farmers and the introduction of soybeans production to the Philippines,” Sec. Pinol wrote.
In response, President Duterte expressed his gratitude to the CPGroup and vowed for a smooth operations of the company.
“One thing that I can assure you is that nobody will bother you. There will be no corruption under my administration and you will get the fair return of your investments in my country,” President Duterte told the CP Group Chairman.
Photo: Grabbed from DA Sec. Manny Pinol FB Page
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