It has been reported that Daedonggang Food Trading Company is pursuing close cooperation with the Chinese side to import equipment necessary for modernizing the production process.
A Pyongyang source told Daily NK on the 2nd, “The Taedonggang Food Trading Company in Pyongyang is facing the situation of having to replace its outdated production process, and is currently preparing to import refining and processing equipment.”
Daedonggang Food Trading Company produces Pyongyang Soju and Koryo Soju in bottled and sealed forms, and the products are sold in department stores and stores in Pyongyang and other provincial capitals.
Daedonggang Food Trading Company is carrying out national plan tasks by selling its products nationwide, but it is said that it is barely achieving the liquid plan (a plan that sets a target in monetary terms).
Accordingly, it was deemed necessary to expand overseas sales channels and generate national benefits by activating exports and foreign currency earnings, and so a project to modernize the production process was launched.
The goal is to produce more competitive products and improve quality through modernization, promote Pyongyang Soju and Koryo Liquor abroad, sell more, and contribute to earning foreign currency for the country.
To do so, it is reported that Daedonggang Food Trading Company first needs to import the latest equipment, and for this purpose, it has borrowed foreign currency from the central bank.
Meanwhile, it is said that trade representatives of the Daedonggang Food Trading Company are currently in Sinuiju and are working closely with the Chinese side.
“Trade representatives are busy going back and forth between Sinuiju and Dandong (in Liaoning Province) to sign contracts with China to import the necessary equipment as quickly as possible, while also looking for investors in China who are willing to invest in this project (modernizing the production process and exporting the products),” the source said.
Meanwhile, the source said, “Daedonggang Food Trading Company is also in the process of making full preparations, including preparing for the arrival of new facilities and securing efforts to expand production.”
Source: www.dailynk.com
