Government pushes for more private sector investment

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Prime Minister General Prayut Chan-o-cha stated during his weekly televised address to the country, “Returning Happiness to the People”, that the government has been stimulating private investment in a bid to improve the economy.

The government has been speeding up measures for projects under the Public-Private Partnership (PPP) Fast Track to reform the working process, as well as decrease the investment period for various infrastructure projects. The approval time for PPP projects, which roughly stood at 2 years previously, has now been reduced to an estimated 9 months.

The government has plans to invest in many other infrastructure projects, worth over 347 billion baht, in an effort to stimulate the short and medium term economy. Meanwhile, the government confirmed that PPP Fast Track will not include the period spent on considering, inspecting and selecting private investors. The government ensured that the process is being conducted transparently, thoroughly, fairly, and in accordance with the 2013 Public Private Partnership Act.

Many projects have already entered the PPP Fast Track, such as the pink rail line project on Khae Rai-Min Buri route, yellow rail line project on Lat Phrao-Samrong route and blue rail line project between Bang Sue and Tha Phra.