CP Group Ambitious For 2010 Growth

Leading Thai agribusiness conglomerate Charoen Pokphand Group (CP) has confirmed plans to invest THB40bn (US$1.22bn) in expansion in 2010. The company intends to exploit improving global economic sentiment and improved political stability at home to drive group sales growth to 20% year-on-year. Thailand, where BMI is forecasting a significant economic uptick in 2010, will receive the bulk of CP's investment funds (THB30bn), while the high-growth markets of Vietnam, China, India and Russia will be other key targets. While diversification remains on the agenda for 2010, CP's flagship food business is set to remain the primary driver of

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