PBBM applauds the Thai company’s $2.5 billion commitment to boosting agriculture.
Tuesday’s announcement by Thailand’s Charoen Pokphand Group (CP Group) to spend roughly USD2.5 billion (PHP140.8 billion) will be warmly received by President Ferdinand R. Marcos Jr.
According to Communication Secretary Cheloy Garafil, when Marcos met with representatives of the CP Group, led by its chairman Soopakij Chearavanont, in Malacaan Palace in Manila, the investment pledge was discussed.
According to Garafil, the CP Group’s expansion ambitions for swine ($1.3 billion), poultry ($280 million), shrimp ($800 million), and food ($120 million) all incorporate the utilization of innovative technologies.
Marcos stated during the meeting that he wanted the Philippines to emulate the CP Group’s initiative to introduce “state-of-the-art” technology to the nation.
“We’re quite amazed by the modern technologies you employ. According to a comment from Marcos provided by the Presidential Communications Office (PCO), “I remember you told me that each plant farm you build is different from the last one because you immediately incorporate and adopt new techniques in technology.”
“I believe that the only way to compete is to learn and use new things constantly. The CP Group has performed so well that it is a cutting-edge business.
The CP Group asked the Marcos administration for help at the conference in locating suitable land that would cover approximately 400 hectares for aquaculture (shrimp farming) and 300 hectares for swine and poultry, including eggs.
The organization also favors employing contemporary technology for the complete supply chain, from upstream and downstream raw materials to the final product for the market and potential exports.
According to Marcos, the nation also has the raw materials and a skilled labor force to go along with the technologies already in place to strengthen the value chain in the agriculture sector.
“We have many people who are very good, even in the ecology of agronomists and agriculturists, experts in fisheries, rice, and broiler production. We require this system, he declared.
They aren’t carrying out their tasks as if the other components of the system didn’t exist. That’s essentially where we are now. Now, I suppose we could start where we are and work to keep getting better.
Marcos stated that he would talk with other interested parties about whether it would be feasible to put together a project that would increase the productivity and resilience of the agriculture sector, acknowledging the government’s responsibility in supporting private sector projects.
Marcos pledged to maintain the agricultural upswing and “move forward,” blaming the lack of mechanization for the nation’s failure to continue the consolidation process to enhance systems.
“That is why we are currently working to catch up. Therefore, I believe we can. He added that there must be a method “to get all the lessons that have been learned by everyone in the world, not just you.” “We will have internal discussions with everyone else who will be contributing to the project. We will undoubtedly determine what approach is best.
Marcos and the CP Group executives first met while he was in Thailand in November 2022.
Today, The CP Group holds investments in 21 nations and economies worldwide, operates via more than 200 companies, and employs more than 300,000 people. It is a major holding company in Thailand.
It engages in eight business sectors, including agro-industry and food, retail and distribution, media and telecommunications, e-commerce and digital, real estate, automotive and industrial products, pharmaceuticals, finance and investment, and retail and distribution.
Business tycoons Sabin Aboitiz and Francis Chua and officials and representatives of the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) Philippines were present at Marcos’ meeting with the CP Group.
Garafil, Frederick Go, Martin Romualdez, the speaker of the House of Representatives, and Gloria Macapagal-Arroyo, a representative from Pampanga, were among the Philippine representatives present at the meeting.
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