Pyongyang’s Taedonggang Foodstuff Buying and selling Firm is negotiating with Chinese language corporations to import trendy purification and processing tools, in keeping with a supply within the metropolis just lately. The transfer comes because the North Korean firm seeks to exchange its outdated manufacturing {hardware}, highlighting efforts to modernize its meals manufacturing processes.
Taedonggang Foodstuff Buying and selling Firm produces Pyongyang soju and Koryo liquor in each bottled and plastic bag type. Its merchandise are offered in shops and outlets in Pyongyang and provincial capitals all through the nation.
Taedonggang Foodstuff Buying and selling Firm pays its nationwide quota and sells its merchandise nationwide, but it surely barely meets its quota.
Due to this fact, the corporate has begun to modernize its manufacturing processes, believing that increasing its home and abroad gross sales community and activating exports and international alternate earnings can convey better advantages to the state.
The corporate goals to contribute to the state’s international alternate earnings by producing extra aggressive merchandise and bettering the standard of its merchandise by way of modernization, thereby growing the abroad recognition and gross sales of Pyongyang Soju and Koryo Liquor.
The Taedonggang Foodstuff Buying and selling Firm must import trendy tools for this objective. Accordingly, it took a mortgage from the North Korean central financial institution to cowl its international foreign money scarcity.
Commerce delegates from the Taedonggang Foodstuff Buying and selling Firm have gone to Sinuiju to carry shut talks with Chinese language corporations.
“The commerce delegates are transferring rapidly to signal a contract with China to import the wanted tools as quickly as attainable, shuttling forwards and backwards between Sinuiju and Dandong (in China),” the supply mentioned. “They’re additionally in search of buyers in China who can make investments on this mission (to modernize manufacturing and export merchandise).”
“Taedonggang Foodstuff Buying and selling Firm has additionally began all types of different preparations, together with securing personnel to deal with the expanded manufacturing when the brand new tools arrives.”
The Every day NK works with a community of sources in North Korea, China, and elsewhere. For safety causes, their identities stay nameless.
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