THE PAVILIONS PHUKET EPL Prediction Competition 2018-2019 Kata Rocks
Login | Create Account Poll Currency Weather Facebook Youtube Search

Alibaba B11bn investment promises quick results, says Prayut

BANGKOK: Alibaba Group has promised to produce results of mutual benefit from its investment in Thailand by the end of next year, and to help poor farmers, Prime Minister Gen Prayut Chan-o-cha said after meeting with executive chairman Jack Ma today (April 19).

economics
By Bangkok Post

Thursday 19 April 2018, 05:55PM


Alibaba Group executive chairman Jack Ma, left, stresses a point while talking to Prime Minister Prayut Chan-o-cha at Government House on Thursday. Photo: Government House

Alibaba Group executive chairman Jack Ma, left, stresses a point while talking to Prime Minister Prayut Chan-o-cha at Government House on Thursday. Photo: Government House

The two men met at Government House this morning, before the Alibaba Group signed four memorandums of understanding for planned investment in the country.

“The talks form an agreement and a promise that within 2019 mutual interests will be realised,” the prime minister said.

“Not only will we sell products with them, but also our systems and people will be developed. This will happen simultaneously over the long term,” Gen Prayut added.

Alibaba Group would invest in a Smart City and a Smart Digital Hub in the Eastern Economic Corridor.

He had asked that it also support small farmers and community businesses and cooperatives, and help solve problems of trade in Thai rice, palm products and natural rubber, the prime minister said.

Alibaba would sell quality Thai rice on its website. The amount had still to be discussed.

New Paths Retreat

The prime minister quoted Mr Ma as saying that Alibaba Group would help poor people and small farmers in Thailand and other Southeast Asian nations. It did not focus just on economic benefits, because it had enough of those already.

Alibaba Group intended to enhance the competitiveness of low-income earners and small farmers through online business, Gen Prayut said.

The internet retail giant is reportedly proposing investments worth about 11 billion baht in Thailand.

 

Read original story here.

 

 

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

Comments Here:
Comments Left:
# Characters
Username:
Password:
E-mail:
Security:

Jor12 | 20 April 2018 - 18:00:07

If you bother to read the article and use your brain which I know can be difficult, it states, "...Alibaba Group intended to enhance the competitiveness of low-income earners and small farmers through online business."

Kurt | 20 April 2018 - 09:43:14

Promise results by end of 2019? Who believes that promise?
Why any result showing will take 20 months?
By than you not hear anymore of this.
Who than lives, than cares, in Thailand. 
Helping poor farmers is the responsibility of the Generals Government, now!
No wonder that so many red shirts remain red shirts.

Capt B | 20 April 2018 - 09:28:58

All seafood imports to Thailand through Alibaba's Commo China should be prohibited. Under The United Nations Convention on the Law of The Sea, each country has a 200 NM Fishing Zone & Exclusive Economic Zone, however, Chinese Flagged Fishing Vessels ignore the existence of these EEZs, just ask President Duterte, President Widodo & President Donald Trump.EU FISHING COMPLIANCE ?

Have a news tip-off? Click here

 

Phuket community
Civil action to be taken against shot Phuket driver’s family

Not sure how "saw" became "so", technology.. amazing....(Read More)


Indonesia teen rescued after seven weeks adrift at sea

Amazing ordeal for this kid. The fact that he agreed to be moored 125 km out to sea by himself is p...(Read More)


The Thai wives who never said ‘I do’

It feels like everything about foreigners is immigration wise very well in order. Report-report, 2 n...(Read More)


Drug blitz at full moon party

A small island, allowing up to 30,000 night party goers? On a drugs island? Are they nuts? Where pol...(Read More)


Quarter of capital’s public vans to be retired

Mhh, bit by bit I get hold on thai thinking. 1: stop with beach life guards, look later how to handl...(Read More)


Back to the drawing board for ‘Phoenix’ salvage

Obviously no calculations done to assess the submerged weight of the vessel ie. full of water. No bo...(Read More)


Life Cycling: The health benefits of a good pedalling

Whether it's to improve your health and fitness, as an environmental choice, taking up cycling c...(Read More)


Civil action to be taken against shot Phuket driver’s family

Has anyone actually seen the video, I so a pick up, that is NOT mowing down three motorcyclists wait...(Read More)


Civil action to be taken against shot Phuket driver’s family

So finally the Phuket police take drastic action that was needed to protect the general public from ...(Read More)


Phuket boat mechanic dies after getting neck caught in engine

Yeah...he slipped and got his neck caught...a likely story. Probably more like Capt fired up the eng...(Read More)


 

Melbourne Cup 2018