Charoen Pokphand signals PHL expansion plans — DTI

THAI conglomerate Charoen Pokphand Foods PCL (CPF) has indicated to the government its plans to expand in the Philippines, the Department of Trade and Industry (DTI) said.

In a statement over the weekend, the DTI said CPF executives briefed on their plans to grow in the Philippines.

The company has been growing 35% annually since it started 10 years ago, CPF Philippines Chairman Sakol Cheewakoset said.

“We want the Philippines to overtake Vietnam (as a top overseas market) in a few years,” he said, adding that the company needs government support to realize this goal.

CPF currently operates facilities in all the major Philippine island groups.

The company is currently engaged in agriculture and aquaculture, including pigs, chicken and egg production, among others.

Trade Secretary Ma. Cristina A. Roque said the company is deemed critical in achieving food security.

In a separate statement, the DTI said that Thai fiber cement manufacturer Shera PCL has also requested government support to accelerate growth in the Philippines.

“We want the second phase of our investment to supply the entire country, and we plan to achieve that by investing more,” Shera Chief Executive Officer Ongon Taechahamaphant said, adding that the company plans to supply products for government and private projects.

With a 120,000-metric ton capacity in the Philippines, the company generated P2.7 billion in revenue last year while employing 150 workers.

Ms. Roque noted ample room for the company to expand in the Philippines, particularly in mass housing. — Justine Irish D. Tabile