Marcos woos more investors in Thailand

Metro Manila, November 18 ------ A Thai conglomerate has pledged to increase investments in aquaculture, rice, and swine production in the Philippines after meeting with President Ferdinand Marcos Jr. in Bangkok, Malacañang said.

The Office of the Press Secretary (OPS) said the CP Group, which is Thailand’s largest private company, made the commitment on the sidelines of the Asia-Pacific Economic Cooperation Economic Leaders’ Meeting. The CP Group currently has a $2-billion investment in the Philippines, according to the OPS. It said the biggest of these investments is Charoen Pokphand Foods Philippines Corporation (CPFPC), a subsidiary of Charoen Pokphand Foods Public Company Limited. “Aside from shrimp and fish hatchery farms, the company (CPFPC) has built one of the most modern aquaculture feed mills in Bataan," read the OPS statement. "The feed mill produces feeds for tilapia, catfish, milkfish, and also shrimp feeds for Vanamei and Manodon."

Meanwhile, the office also said Marcos vowed to improve the aquaculture industry in the Philippines, as he acknowledged that not much is being done in that regard. Official data released in October showed that fishing and aquaculture shed 286,000 jobs month-on-month in August – the worst among major industries. "Aquaculture is an area where the Philippines can do well,” Marcos said in a separate meeting with the Philippine-based Aboitiz Group. “So, that's something that we are not doing a lot, and I really feel that we are missing an opportunity because we are a country with over 7,000 islands," he added. "I am sure that there are many places that are suitable for this kind of operation."

During his engagement with business leaders in Bangkok, the chief executive also reiterated that the "centerpiece" of his administration's bid toward economic transformation is improving partnerships between the public and private sectors. As of August, the government recorded a total of 74 public-private partnership projects in the pipeline, with a total estimated cost of P2.25 trillion, Marcos earlier said.

Source: cnnphilippines.com