Vietnam Digest: Thailand’s CP Foods to invest $200m
May 3, 2019
Thai agricultural conglomerate CP Foods will invest $200 million to create an export hub in Vietnam while Hanoi-based Maritime Bank plans to list on the Ho Chi Minh City Stock Exchange (HoSE) in the third quarter. Thailand’s CP Foods to invest $200m in Vietnam Thai agricultural conglomerate Charoen Pokphand Foods (CP Foods) will invest more than $200 million to create an export hub for its poultry and pork business in Vietnam, the Nikkei Asian Review reported. The proposed investment is equal to more than 25 per cent of the total invested by Thai companies between 2015 and 2017. The Thai company is hoping to take advantage of the free trade agreement which came into effect at the end of last year, according to the report. In 1993, CP Foods established CP Vietnam, which is engaged in livestock and aquaculture businesses. Since then, CP Foods has so far invested a total of $1 billion in the country. As of the first quarter this year, Thai investments in Vietnam stood at $10.4 billion, according to Vietnam’s Foreign Investment Agency.
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