Thailand's new infrastructure projects to link with Asean countries

By Bernama

Thursday, 30 August 2012 16:01 BANGKOK: The Thai government is planning new mega-infrastructure development projects worth some two-trillion-baht but foreign investors will be invited to run the projects to limit public debt at no higher than 60 per cent of the country's gross domestic product (GDP). In revealing the plan at the “Thailand Focus 2012” seminar here Aug 29, Deputy Prime Minister and Finance Minister Kittirat Na-Ranong said the projects are aimed at linking Thailand with other member countries of the Association of Southeast Asian Nations (Asean). Thai News Agency reported Kittirat as reiterating the new mega projects would not raise Thailand's public debt beyond the 60 per cent benchmark of the GDP. "As part of the plan, the government has proposed a joint venture law to the Parliament and is working out details of its infrastructure fund while seeking permission from the Securities and Exchange Commission (SEC) to sell the fund's shares in a few months time," he said. The deputy premier added the government has supported national economic growth mainly by stimulating domestic consumption through, for instance, a minimum wage hike, a debt moratorium for local farmers and tax privileges for first-home and first-car buyers.-- Bernama