CP’s arm in Philippines lauded for creating new jobs, boosting sustainability
Apart from helping make the food industry more sustainable, Charoen Pokphand Foods Philippines Corporation (CPFPC) has also created jobs for 3,000 Filipinos.
The Thai Embassy’s Trade Centre in Manila said on Monday that CPFPC has also helped develop the Philippines’ livestock and aquaculture industries using technology and high-quality breeding methods to boost productivity.
CPFPC is a subsidiary of Charoen Pokphand Foods.
“The corporation has not only helped boost the image of Thailand and its products but also strengthened the trade relationship between the two countries,” said Janthana Chotimunee, minister counsellor (commercial) at the embassy.
CPFPC was established in the Philippines’ Bulacan province in 2010 with an investment of more than $2 billion (69.6 billion baht).
“CPFPC is now a large manufacturer in the Philippines' livestock and aquaculture industries,” Janthana said.
She added that Philippine President Ferdinand Marcos Jr is wooing foreign investors to help rebuild his country’s economy in the fallout of the pandemic.
“As of August, the Philippines has welcomed 74 public-private partnerships worth 2.25 trillion pesos [1.41 trillion baht],” she said.
However, she said, Thai investors should closely study the Philippines’ investment laws as they are quite complicated.
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