Thailand inks partnership agreement for ASEAN development


BANGKOK– The Ministry of Finance has made partnership agreements with several organizations to support the economic development of the ASEAN region.

The Thai Minister of Finance, Aphisak Tantiworawong. yesterday presided over the signing ceremony of partnership agreement between the Ministry of Finance, the Neighbouring Countries Economic Development Cooperation Agency (NEDA), and the Asian Development Bank (ADB) on the economic development of the neighbouring countries.

The agreement covered the improvement in relation to transportation, energy, politics, the establishment of the Special Economic Zones, public health, and education, through cooperation, which included loan offering, knowledge transfer, and capability enhancement projects.

According to the Thai Minister of Finance, the neighbouring countries’ economic development is important for the realization of ASEAN Community.

He further added that the lowering of the corporate income tax rate to 20 percent was a measure aimed at attracting more investors to Thailand, while the adjustment of vehicle excise tax would take effect from January 1, 2016.