Friday, March 24, 2017

Thailand agricultural company to invest $2B in Philippines

A Thai agricultural company has pledged to invest $2 billion in the country in the next five years, President Duterte said on Thursday (March 23).

The President announced the huge Thai investment plan shortly after arriving in Manila on Thursday morning from his visits to Thailand and Myanmar. Duterte earlier traveled to the two Asian neighbors to revitalize the country’s diplomatic, economic and security relations.

“I also met with Charoen Pokphand (CP) Group officials which committed $2 billion in investment expansion in five years. They are already here. This will largely focus in the Visayas and Mindanao region,” the President said in a press conference at the Manila airport.

Duterte said he also sought more investments for the country in his meetings with other Thai businessmen during his visit to Bangkok.

In Thailand, Duterte said he held “warm and open” discussions with Prime Minister Prayut Chan-o-cha on further elevating the “excellent ties” between the two countries.

He said the two countries agreed to expand cooperation to address common security problems such as terrorism, extremism, and illegal drugs.

“We affirmed the intensified collaboration in the areas of military, trade and investment, tourism, agriculture, science and technology, energy, education, among others,” he said.

The two countries also inked three agreements on science and technology, swamp and dairy buffalo production, and a program on tourism cooperation in 2017-2022.




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