[ Thailand ] The Minister for Transport, Thailand, stated a new investment plan of 8 mega projects with a cost of $3.9 billion.
20 November 2017
What's more, the government's implementation of its investment in megaprojects and infrastructure development, including the Eastern Economic Corridor (EEC), is now attracting investors from several countries, including Japan.
Transport Minister Arkhom Termpittayapaisith, meanwhile, conceded the low figures in government investment this year have stemmed from delayed budget disbursement and a lack of new investment projects.
The last major investment project was the construction of Suvarnabhumi airport, he said.
As for next year, the Transport Ministry has set aside a 309.6-billion-baht budget to fund the projects.
Of this amount, 152.1 billion baht will go to land transport infrastructure, 96.2 billion baht to rail transport infrastructure, 7.3 billion baht to marine transport infrastructure and 53.5 billion baht to air transport infrastructure.
Moreover, the ministry plans to implement 103 projects under the EEC scheme from this year until 2021, at a total cost of 745.7 billion baht, he said.
Among the planned projects is one that aims to further develop U-Tapao international airport in Rayong to relieve congestion and maximise its capacity so it can accommodate up to 60 million passengers per year.
The current capacity at Suvarnabhumi airport is 45 million passengers.
Meanwhile, an opinion survey conducted among 380 members of the Thai Chamber of Commerce (TCC) on Nov 13-16 showed optimistic sentiments, said Kalin Sarasin, TCC chairman.
Despite their perception of stagnant growth in all economic sectors, the majority of the survey's respondents said they believe the Thai economy will significantly recover between the second and third quarters of next year, Mr Kalin said.
Wirote Jirattigalachote, chairman of the TCC's committee on economic development in the northern region, was less confident about next year's economic outlook.
However, he too is convinced the economy will begin to pick up between the second and third quarters of next year, with the credit going to expansion in the tourism sector.
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Credit: Bangkok Post
Credit link: https://www.bangkokpost.com/news/general/1363363/government-pledges-b100-billion-for-grassroots