Cabinet has green lighted Anti-Money Laundering and Counter-Terrorism Financing draft bills

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KANCHANABURI, 20 May 2012  – The cabinet has approved an economic and infrastructural development plan in the western part of Thailand to gain profit from the deep-sea port and industrial estate project in Dawei of Myanmar. 

According to acting government spokesman Anusorn Iamsa-ard, Deputy Prime Minister Kittiratt Na Ranong has been assigned to oversee the plan. The project, which will be operational in 2015, is expected to stimulate trade and investment and help increase the Thai GDP by 1.9%.

The cabinet has also approved an economic framework for the 8 lower central provinces consisting of 200 projects worth altogether THB33 billion. 60 projects are ready for immediate implementation with an average cost of THB100 million per province.

As for prices of consumer goods, vegetables and fruits, the Ministry of Commerce has been instructed to control the middlemen’s mark-up to lower than 50 % of the selling prices.

At the same time, the Ministry of Agriculture and Cooperatives has been ordered to promote the cultivation of pomelo and other potential fruit crops in Samut Songkram, Samut Sakhon and Nakhon Pathom.

Additionally, the cabinet has given the green light to the Anti-Money Laundering Bill and the Counter-Terrorism Financing Bill. The two bills will be sent to the Office of the Council of State for scrutiny and later forwarded to the parliament for deliberation. They are expected to sail through Parliament this year, which will help lessen hardships the business sector has been going through after Thailand has been put on the high-risk list issued by the anti-money laundering Financial Action Task Force (FATF).

The next mobile cabinet meeting is set to take place in the eastern province of Chon Buri during June 18-19, 2012.