According to Charoen Pokphand, Thailand’s food conglomerate, the company is spending $40 million in the next two years to expand its operations in select areas in Luzon. Agriculture Secretary Arthur C. Yap said the Thai firm’s wholly-owned subsidiary, Charoen Pokphand Foods Philippines Corp. (CPFPC) is looking to establish feedmills, grow out farms and prawn hatcheries.
Yap also told that CPFPC will start in Isabela and [then they will go to] Batangas. He was speaking at the sidelines of the Philippine Economic Briefing held in Makati City on Wednesday. The company informed that it is engaged in animal farming and the manufacture of food products from meat in Thailand and overseas.
Charoen Pokphand, a Thai-based firm, set up CPFPC in 2007. The Thai subsidiary in the Philippines is primarily engaged in the operations of shrimp hatchery. Aside from CPFPC, Yap said other foreign investors from Saudi Arabia are also keen on investing in the Philippines.
