Thailand conglomerate Charoen Pokphand Group (CP Group) pledged a USD 1.5 billion investment in the Philippines during a meeting at the Laperal Mansion in Malacañang Palace on Tuesday.
CP Group Chairman Soopakij “Chris” Chearavanont and President Ferdinand Marcos Jr. discussed several business-related topics, including agriculture projects.
According to Marcos, as a way to expand the business operation of the Thai multi-national company, CP Group committed an additional USD 1.5 billion in investments to the country, to build a 10,000 hectares modernized mega farm.
The group previously committed US 2.5 billion investment in the agricultural sector of the country.
"I am very pleased with his plans and commitment to expand their business operations here in the 𝘗𝘩𝘪𝘭𝘪𝘱𝘱𝘪𝘯𝘦𝘴. I extend my best wishes to my friend Chris, the CP Group and their Philippine partners for continued success," President Marcos said on his Facebook post on Wednesday.
