Thailand planned new state-sponsored investment stimulus programs

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BANGKOK, 8 August 2012  – Thailand is set to implement more investment stimulus programs to pave ways for the development of the country. 

Deputy government spokesman Chalitrat Chantharubeksa said that the Cabinet on Tuesday agreed to endorse the minutes of the 5th Strategic Committee for Reconstruction and Future Development (SCRF) meeting, which called for the speeding up of 4 key investment plans in the country.

Mr. Chalitrat said that, according to the SCRF, Thailand has been missing out in the areas of infrastructure investment for more than 15 years, or since 1997.

Therefore, it is urging the government to plan a 5-10-year investment policy, which focuses on domestic borrowing and the elevation of the government-to-government collaboration in the development of the Dawei deep-sea port project and the related industrial estate, which is intended to connect Thailand’s west coast.

The SCRF also asked the government to speed up the construction of the dual-track railway and the high-speed train system.

In addition, the committee stated that the government should quickly disburse its financial aid to businesses, which were hit hard by last year’s severe flood crisis, through the Bank of Thailand’s low-interest-rate 300-billion-baht loan project, which will help SME operators to be ready for future goods transport to other ASEAN markets at lower logistics costs.