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Thai Hemp Association (TiHTA) signs pact agreements with 12 leading manufacturing industries as it advocates Hemp and Cannabis within the industrial and medical realms!

Published: 22nd September 2022

Author: Hemp Health ®

After Canada and Uruguay, Thailand was the first Asian country and the third country globally to decriminalise Cannabis nationwide. Following its legalisation, the Thai Food and Drug Administration (FDA) has issued nearly 1 million electronic certificates to registrants who seek permission to cultivate cannabis.

Since its legalisation, the President of the Thai Hemp Association (TiHTA) Pornchai Padmindra stated popularity for Cannabis and Hemp farming. As a sign of sustainable success, the Thai hemp association started to study and pave the way to industrialize Hemp and Cannabis production for use in 12 key industries. Key industries included: automotive, aerospace, foods, drinks, dietary supplements, medicine, composites, cosmetics, fashion, textiles, furniture, animal feed, and many other areas.

This will be Asia’s first Business to Business (B2B) cannabis and hemp industry collaborations. I wonder how much of the farming will be for Thai CBD Oil production?

Who is Pornchai Padmindra?

We at Hemp Health endorse the President of the Thai Hemp Association (TiHTA) Pornchai Padmindra’s views and strategic direction of Thailand becoming a professional leader within the global Hemp and Cannabis industry. The President has strong credentials, as he spans nearly a 30-year career within various Director level roles. He grew his career from a PricewaterhouseCoopers (PwC) auditor, to Director and Country Head of Capital Markets within Citibank. Next, he excelled as Executive Vice President at Standard Chartered Bank. Before entering the Cannabis industry in 2021, he finished his banking career as Senior Vice President at Thai Public Bank.

In 2022, the President believes Sustainable development is expected to create enormous economic value for the Cannabis Sativa plant family. He predicts the generated income to exceed 20 Billion Baht (£475m GBP or $535m USD) within 5 years.

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