President Bongbong Marcos has secured an investment deal with Thailand's biggest firm, Malacañang announced on Thursday.
According to the Office of the Press Secretary, Thai conglomerate CP Group has pledged to make more investments in the Philippines in aquaculture, rice, and swine production, following a dinner meeting with the President on Wednesday evening.
OPS said 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 currently has a $2 billion investment in the Philippines, according to OPS.
The largest and the most significant Thai investment in Philippine Agriculture is Charoen Pokphand Foods Philippines Corporation, a subsidiary of Charoen Pokphand Foods Public Company Limited.
CPFPC started operations in the Philippines in May 2010 with a rented feeds mill located in Guiguinto, Bulacan.
In 2012, the company made additional investments in aquaculture and agro-business in the country.