CP invests in Jilin villages

       Charoen Pokphand group has announced the launch of a 39.5-billionbaht project to develop farm villages in Jilin province in the central part of northeastern China.
       The project, worth 7.9 billion yuan,has been approved by the Chinese government and involves investment in raising 3 million layers,2 million poultry and 1 million pigs per year.
       CP chairman Dhanin Chearavanont made the announcement ahead of the 60th anniversary celebrations of the People's Republic of China on Oct 1.
       "CP will offer a fully integrated farm project, or a farm-to-table process, and the finished products will be distributed under the CP brand. Selling price guarantees would assure the income of farmers in the project," said the head of Thailand's biggest agribusiness group and the largest foreign investor in China.
       He said the investment conformed with China's policy to improve farm incomes by modernising agricultural villages and promoting more advanced technologies through co-operation among four parties: farmers, private companies, banks and the government.
       The Jilin project is part of a CP programme, which has won Beijing authorities' approval, for implementing farm development projects in selected villages in several provinces including Jilin, with a total investment of about 100 billion yuan.
       Mr Dhanin said the investments reflected CP's confidence in China's economy, which remains strong with an expected gross domestic growth of 7.1%this year.
       CP was the first approved foreign investor in the People's Republic more than 30 years ago and China is its second-largest investment market after Thailand. The group employs 300,000 people worldwide.
       "Because CP has seen no impact from the current global crisis, it's the right time to undertake business expansion," said Mr Dhanin.