$71 billion for Thailand’s infrastructure
Thailand is moving ahead with a massive $2.2 trillion baht ($71.4 billion) parliamentary bill to finance the upgrading of the country’s transport and telecommunications infrastructure.
The bill, which is likely to be considered by the parliament by the end of the year, will give the government the power to raise funds in addition to the annual budget for infrastructure over the next seven years.
60 per cent of the funds are supposed to be used for the upgrade of the rail network that will link mainland ASEAN, and the rest will be allocated for power generation and upgrade of IT systems at border checkpoints ahead of the ASEAN Economic Community. These are projects laid out by Thailand’s National Economic and Social Development Board.
The new infrastructure network should improve the economy’s capacity to benefit from rapid economic development in Cambodia, Laos, Myanmar and Vietnam, said Narongchai Akrasanee, a member of the Bank of Thailand’s Monetary Policy Committee.
The investments are focused on public-private sector partnership for large infrastructure projects. The government is currently working on an infrastructure fund to be listed in the stock market.
“With the current fiscal position, there is room to invest in long-term infrastructure projects to increase the country’s competitiveness,” Thailand’s finance minister Kittirat Ranong said.
Foreign investors will be invited to run the projects to limit public debt at no higher than 60 per cent of the country’s GDP.
[caption id="attachment_4597" align="alignleft" width="240"] High-speed train expansion starting in 2013 will link China and ASEAN by 2022[/caption] Thailand is moving ahead with a massive $2.2 trillion baht ($71.4 billion) parliamentary bill to finance the upgrading of the country's transport and telecommunications infrastructure. The bill, which is likely to be considered by the parliament by the end of the year, will give the government the power to raise funds in addition to the annual budget for infrastructure over the next seven years. 60 per cent of the funds are supposed to be used for the upgrade of the rail network that...
Thailand is moving ahead with a massive $2.2 trillion baht ($71.4 billion) parliamentary bill to finance the upgrading of the country’s transport and telecommunications infrastructure.
The bill, which is likely to be considered by the parliament by the end of the year, will give the government the power to raise funds in addition to the annual budget for infrastructure over the next seven years.
60 per cent of the funds are supposed to be used for the upgrade of the rail network that will link mainland ASEAN, and the rest will be allocated for power generation and upgrade of IT systems at border checkpoints ahead of the ASEAN Economic Community. These are projects laid out by Thailand’s National Economic and Social Development Board.
The new infrastructure network should improve the economy’s capacity to benefit from rapid economic development in Cambodia, Laos, Myanmar and Vietnam, said Narongchai Akrasanee, a member of the Bank of Thailand’s Monetary Policy Committee.
The investments are focused on public-private sector partnership for large infrastructure projects. The government is currently working on an infrastructure fund to be listed in the stock market.
“With the current fiscal position, there is room to invest in long-term infrastructure projects to increase the country’s competitiveness,” Thailand’s finance minister Kittirat Ranong said.
Foreign investors will be invited to run the projects to limit public debt at no higher than 60 per cent of the country’s GDP.
