Business Services Industry
Thai Economic Development Fund Unintentionally Harms Local Silk Industry.
Knight Ridder/Tribune Business News, August, 2002
By Chatrudee Theparat, Bangkok Post, Thailand Knight Ridder/Tribune Business News
Aug. 13--A village fund intended to spur economic growth has backfired in Pak Thong Chai, Nakhon Ratchasima, where the availability of quick cash has left the local silk industry in tatters.
The handmade silk has provided an income for villagers for more than a century but is not as well known as competing products from larger centres such as Chiang Mai.
At least 10,000 residents of Pak Thong Chai are involved in making silk fabric, either in family or group businesses. They spend about 100 million baht a month on silk thread from which fabric is made for the domestic and export markets.
When 70 people established a club in June last year to help...
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