Thai rubber industry gets 2 billion baht boost to increase global competitiveness

[snoop1130]

 

The Thai Finance Ministry has joined forces with the Thai Chamber of Commerce, and the Rubber Authority of Thailand to launch the Capital Flow in Rubber Industrial Estate project, aimed at enhancing the competitiveness of businesses in the rubber supply chain on a global scale.

 

The rubber and rubber product exports amount to over 680 billion baht annually, with more than 6 million people participating in the supply chain, from upstream to downstream sectors, including farmers.

 

This collaborative effort, involving the Thai Chamber of Commerce, the Thai Board of Trade, the Rubber Authority of Thailand, the Thai National Shippers’ Council (TNSC), and the Thai Credit Guarantee Corporation, is designed to provide access to capital for entrepreneurs, particularly small and medium-sized enterprises in the Thai rubber industry.

 

Finance Minister Arkhom Termpittayapaisith announced that the 2023 budget allocation of 2 billion baht is expected to enhance the value of rubber and rubber products, paving the way for Thai rubber to expand its global market share.

 

The agreement, which includes companies such as Thai Hua Rubber and Construction Products Co Ltd, will contribute to the added value of Thai rubber, particularly in terms of rubber waste utilisation, according to Arkhom.

 

By Alex Morgan

Caption: Photo by Goh Rhy Yan on Unsplash

 

Full Story: https://thethaiger.com/news/business/thai-rubber-industry-gets-47m-boost-to-increase-global-competitiveness

 

-- © Copyright Thaiger 2023-06-01

 

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[hotchilli]

11 hours ago, snoop1130 said:

Finance Minister Arkhom Termpittayapaisith announced that the 2023 budget allocation of 2 billion baht is expected to enhance the value of rubber and rubber products, paving the way for Thai rubber to expand its global market share.

And the 2 billion baht is used how?

To purchase new technology, buy new manufacturing machines or just subsidise?

[Emster23]

3 hours ago, hotchilli said:

And the 2 billion baht is used how?

To purchase new technology, buy new manufacturing machines or just subsidise?

exactly. If it is just a reward for inefficiency, then it will make Thailand even less competitive..... no one in gov seems to ever have even a basic econ 101 understanding of market forces

[hotchilli]

2 hours ago, Emster23 said:

exactly. If it is just a reward for inefficiency, then it will make Thailand even less competitive..... no one in gov seems to ever have even a basic econ 101 understanding of market forces

They understand under cutting the competition at all costs.

[xtrnuno41]

Well there are roads in Thailand , where they use concrete as separation between the lanes.

They can use a massive rubber layer on them for safety. 

[Mavideol]

allowing production of sex toys will boost rubber consumption as well  555