Lahore: A high-level delegation from Thailand, Charoen Pokphand (CP) Group led by Natthakrit, Vice Chairman of the group (CP Food) visited the Punjab Board of Investment & Trade (PBIT) and held talks with PBIT high ups about investment opportunities in Punjab. Chief Executive Officer PBIT Habib ur Rehman, and Ambassador of Pakistan to Thailand Sohail Mahmood received the CP delegates, along with other team members of PBIT. An MOU for facilitation between CP Group and PBIT at the occasion was also concluded, whereby PBIT team renewed its assurance to support CP Thailand with their venture into Pakistan and especially Punjab.
Speaking on this occasion Vice Chairman CP Group Mr. said “We plan to enter into Pakistan, not just to sell, but to serve the farming community, generate employment opportunity and invest in agriculture research to improve the quality and quantity of food in the region.” Sohail Mahmood, the Ambassador of Pakistan to Thailand, highlighted the significance of Thailand’s investment into Pakistan for the bilateral relations and assured CP Group of unrelenting support from the Government to help realize their investment project in Pakistan. Habib ur Rehman Gilani, CEO PBIT at the occasion said “Entry of CP Group is very encouraging and must be looked from a broader perspective in which CP and other global business conglomerates of CP Thailand can help redefine the face of investment in Punjab.”
It is worth mentioning that CP Food is investing in Punjab, considering the vast potential in the agriculture & livestock sector. PBIT and the Embassy of Pakistan in Thailand have been providing CP Group with investment opportunities, business know-how, Government connectivity, corporate law guidance and related information. CP Group is expected to bring in a sizeable investment into Pakistan.
The other members of CP included Mr. Santee, President, Mr. Somkid President CP Pakistan & Bangladesh, Mr. Boonkial Senior Vice President and Mr. Thosopol Poo, General Manager.
CP Group is a leading agro-industrial and food conglomerate in Thailand and Asia with annual turnover of US$ 7 billion in the food sector only and US$ 17 billion overall. The greater part of the company production base is in Thailand with vast overseas operations. CP Group operates its overseas business through its subsidiaries in Turkey, China, India, Malaysia, England, Russia, Laos and Vietnam. Besides its Agri-Food business, other main business of the group include telecommunications, e-commerce, international trading, marketing & distribution, petrochemicals, property and land development, Insurance automotive and industrial project, crop integration and pet foods. It was one of the first companies of the world to be allowed FDI in China.