President Marcos has expressed his gratitude to the Thai conglomerate Charoen Pokphand Group (CP Group) for its plans to expand its business operations in the Philippines which would most especially benefit the country's agriculture sector.

Marcos said this as he met with CP Group Chairman Soopakij “Chris” Chearavanont at the Laperal Mansion in Malacañan on Tuesday, July 30, to discuss agriculture projects, among other topics.

In a Facebook post late Wednesday night, July 31, the President said CP Group has committed an additional $1.5 billion in investments to the country, starting with a 10,000-hectare modernized mega farm.

Marcos said this proved that their meetings over the past two years were meaningful and productive.

"I am very pleased with his plans and commitment to expand their business operations here in the Philippines," he wrote.

"I extend my best wishes to my friend Chris, the CP Group, and their Philippine partners for continued success," he added.

CP Group is a Thai conglomerate comprising multiple business entities in different industries under one corporate group.

Before Wednesday's meeting, CP Group already had about $2 billion in investments in the Philippines, particularly in poultry and swine production.

Marcos first met with CP Group on the sidelines of the Asia-Pacific Economic Cooperation (APEC) meeting in Bangkok, Thailand, in November 2022, where the latter expressed interest in putting more investments in the Philippines’ aquaculture industry, as well as in rice and swine production.

In May last year, CP Group executives paid a courtesy call to Marcos in Malacañan where the President assured the conglomerate of the government’s support as it rolled out its plans and programs for the Philippines’ agriculture sector.

In response, the CP Group expressed its commitment to helping the country address swine and avian flu and bringing state-of-the-art technology and training to young Filipinos so they can lead in modern farming.

One of the many affiliates in the CP Group, the Charoen Pokphan Foods Public Company Limited (CPF), operates an integrated agro-industrial and food business, including livestock and aquaculture. The CPF’s subsidiary, Charoen Pokphand Foods Philippine Corporation (CPFPC), is the largest and most significant Thai investment in Philippine agriculture.