MANILA – President Ferdinand R. Marcos Jr. is elated over a Thai company’s interest in putting more investments in the Philippine aquaculture industry, citing its importance in helping the country achieve food security.
Thai conglomerate CP Group pledged to make additional investments in the Philippines in aquaculture, rice and swine production during a meeting with Marcos in Bangkok, Thailand on Wednesday night.
Marcos, who also heads the Department of Agriculture (DA), said there were “many opportunities” to address issues in the aquaculture industry now that the country continues to move toward post-pandemic recovery.
“The Department of Agriculture of the Philippines will go to your Philippine offices and we will begin by that, and maybe we will set a time when a team of Filipinos can come to Thailand. Then we can see what are the opportunities that you feel are going to be appropriate for the Philippines,” Marcos said.
He likewise recognized CP Group’s wealth of experience and its best practices, considering its presence in 21 countries in the world.
CP Group is Thailand's largest private company with a USD2 billion investment in the Philippines.
The largest and the most significant Thai investment in Philippine Agriculture is Charoen Pokphand Foods Philippines Corporation (CPFPC), a subsidiary of Charoen Pokphand Foods Public Company Limited (CPF)
CPFPC (Agriculture) started operations in the Philippines in May 2010 with rented feeds mill located in Guiguinto, Bulacan.
In 2012, the company made additional investments in aquaculture and agro-business in the Philippines.
Aside from shrimp and fish hatchery farms, the company has built one of the most modern aquaculture feed mills in Bataan. It also produces feeds for fish and shrimp.
Meanwhile, Marcos also reiterated his commitment to intensify the fisheries sector in his meeting with Aboitiz Group President and CEO and Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) Philippines member Sabin Aboitiz.
“[Aquaculture] is an area where the Philippines can do well… 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. I am sure that there are many places that are suitable for this kind of operation," he said.
Meanwhile, Marcos on Thursday reiterated his call for nations to make food security a “top priority” during the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Bangkok, Thailand.
"Food security should be a top priority for all governments, developing economies must especially have policy flexibility to ensure increased domestic food production and diversification and improve the local agricultural supply chain," he said.
The President said food insecurity has become a serious global issue and a problem that every household and family feels.
He said issues such as climate change, high inflation, and geopolitical crises must be addressed as it affects the global food ecosystem.
The APEC is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific.
APEC's 21 members aim to create greater prosperity for the people of the region by promoting balanced, inclusive, sustainable, innovative, and secure growth and by accelerating regional economic integration. (PNA)