SONGKHLA, 09 July 2019 (NNT) – Durian is a very popular fruit in Thailand, and its export has become a major source of national income.
Durian production has interested many Chinese investors, with the third-largest durian processing factory in Thailand recently opened in a southern border province.
Durian has now become a very popular fruit among Chinese consumers, especially durian from southern border provinces known for a unique flavor.
Despite the high demand, only 5 percent of national durian harvest is exported to China.
Manguwang Food Company has realized the great potential of durian exports to the Chinese market, and has therefore made a significant investment, in cooperation with the Thai government which offers tax deductions and facilitation in opening the country’s third-largest durian processing factory.
With the new factory located in Songkhla province, the company buys fresh durian fruit from local farmers in southern border provinces and processes it using a freeze-dry process.
The product is then exported to provinces of China overland through Laos and Vietnam. The company is planning to include shipping by sea in the future. It is expected the company will purchase 12,000 tons of fresh durian fruit this year, and will increase the number to 20,000 tons in 2020, creating 1,200 new jobs for villagers.
Thepha District Chief, Sanong Chantarak said this week that the new durian factory will be very beneficial for local villagers and help increase local employment, as well as attracting other businesses to invest more in southern border provinces.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...