CP Foods eyes expansion of Vietnam facilities for exports

July 11, 2019

CP Foods will invest USD 977 million in Vietnam and China in a bid to accelerate growth outside Thailand. Its Vietnam processing facilities will be upgraded to start shipping chicken overseas, said newly appointed CEO Prasit Boondoungprasert. Exports from the Vietnamese facilities previously limited to shrimp and other seafood will also be converted into an export hub scheduled to be ready by 2021. Mr Prasit said he will also meet with Itochu, Sumitomo Corp and Vietnamese officials to discuss export opportunities to Japan.