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Thais Interested in Investing in Philippines

by 5m Editor
2 March 2009, at 8:39am

PHILIPPINES - The government has offered the city of Samal to Thai investors in poultry and aquaculture. The visiting delegation was led by the chairman and CEO of Charoen Pokphand (CP).

Business World reports that the government in the Philippines has offered Thai businessmen the City of Samal in the Davao Region as a potential investment site for poultry and mariculture projects, the Agriculture department said in a press release.

The statement said that President Gloria M. Arroyo and Agriculture Secretary, Arthur C. Yap, briefed a 38-member delegation of Thai businessmen on investment potentials in Samal City.

The delegation was led by Dhanin Chearavanoni, chairman and chief executive officer of the Bangkok-based Charoen Pokphand Group Co. Ltd., which is the biggest agribusiness conglomerate in Thailand and the fifth largest feed mill operator in the world. The businessmen were toured in a 2,000-hectare area in Talikud Island ideal for a possible poultry project, Agriculture Assistant Secretary, Salvador S. Salacup, said in the statement.

Furthermore, government officials offered the potential investors an investment opportunity to develop a large part of the 200-hectare mariculture park in Samal.

Mariculture parks are sea areas where high-value fish like milkfish, red snapper, crablets, seabass and seahorse are caged and raised.

"The Thais will still review their programs and their international partnerships," Mr Salacup said in a phone interview. "We will communicate with them by the third week of March just to follow-up with the development proposal."

Since its launch in 2001, only 20 hectares of the 10-million peso, 200-hectare mariculture park has been developed by Davao-based agribusiness entrepreneurs into fish cages for bangus and other high-value marine species, Mr Salacup told Business World.