Thailand's massive investment set for five years

BANGKOK, June 9 (TNA) - Thai Deputy Prime Minister Somkid Jatusripitak has announced a massive investment policy, under which mega-projects will be launched by both the public and the private sectors over the next five years to stimulate the national economy. Speaking at a seminar, organised in Bangkok on June 8, Deputy Premier Somkid, who oversees economic affairs, acknowledged that the Thai government alone plans to invest up to about 5.5 trillion baht over the next five years, starting from this month. Somkid said that Thailand’s gross domestic product (GDP) grew by 3.2 per cent year-on-year in the first quarter of this year and the Thai economy should be further expanding if cooperation is given by all sectors. Somkid pointed out Thailand needs to depend on itself because economic uncertainties remain in global economies, including those in the Kingdom's major trading partners like the United States, the European Union (EU) and Japan. The deputy premier noted that bidding for three new extended electric train lines in Bangkok and outlying areas will be opened later this year, including the Pink Line From Khae Rai to Min Buri worth about 53.5 billion baht, the Yellow Line from Lat Phrao to Samrong worth 52 billion baht and the Orange Line connecting Thailand Cultural Centre with Min Buri worth 82.9 billion baht. According to the deputy premier, the Thai government will also undertake reforms in the social, education and the public health sectors, while special care will be given to the elderly and agriculturists because the majority of them are living in poverty. Meanwhile, Thai Transport Minister Arkhom Termpittyapaisith revealed that his ministry has given the green light to 11 projects, totally worth 460 billion baht, to further improve transport infrastructure, with the construction of the projects expected to be completed by 2022. (TNA)