Thai govt. to implement four economic strategies

BANGKOK, November 23 (TNA) - Thailand's Commerce Minister General Chatchai Sarikulya says the caretaker government plans to implement four economic strategies aimed at building confidence in both local and foreign investors to stimulate the economy. Gen. Chatchai said during a nationwide chambers of commerce seminar, held in the northernmost province of Chiang Rai on Sunday, that the four strategies include building competitiveness for Thai economy through restructuring production framework, restructuring towards a new industrial era, adjusting high value service sector and accelerating investment on basic infrastructure projects, especially in the transportation sector as well as adjusting logistics system, aimed at reducing costs to 13 from 15 percent against the gross domestic product. Part of the plan include reforming government and state enterprise sectors, eliminating corruption, promoting transparency, and revamping the education system. He also said the government will be adjusting energy prices next year to reflect the genuine global prices which would affect the people minimally. He added that the government will seek further cooperation with the private sector in developing basic digital framework to make the country more competitive, while stimulating the economy by speeding up the 2015 fiscal budget disbursement and spending more than 320 billion baht on helping farmers. Moreover, the government-run Board of Investment has approved promotional privileges to 380 investors with combined investment of 429 billion baht, as another measure to help speed up economic recovery by the beginning of 2015. (TNA)