Thailand's meat producer Charoen Pokphand Foods (CP Foods) in 2015 is set to invest up to $763m to expand in foreign markets.
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The company will spend THB20-25bn ($611-763m) this year, primarily on overseas expansion and acquisitions, Reuters reported.
According to CP Foods chief executive Adirek Sripratak, the company will keep its annual investment budget at that level over the next five years in order to meet an annual sales growth target of 10%.
CP Foods' two-third of revenue comes from abroad and the firm is now seeking 15% revenue growth in foreign market.
Adirek said that the company focused on high-growth markets in Japan, Russia, South Korea and the Philippines, the news agency reported.
Adirek also said that the domestic consumption remains weak as high household debt means consumers are more cautious about spending.However, the chief said that he is more concerned about the general state of the Thai economy.
Adirek was quoted by the new agency as saying: "What I'm worried most is the country's economy. The impact from demand/supply is short term."
CP Foods is the flagship unit of Charoen Pokphand Group, owned by Thailand's richest man Dhanin Chearavanont.
The company currently operates in both the livestock and aquaculture businesses.
