THAILAND – MEGA-PROJECTS
Thailand
Prime Minister Abhisit Vejjajiva presided over the eighth meeting of the Economic Cabinet Committee. The summary of the meeting is as follows:
The meeting acknowledged the financial reports proposed by the Bank of Thailand. During the first five months of 2010, the growth rate was still positive regardless of the effects by the political unrest. Tourism was affected most: however, there were good signs of recovery in June. It is expected to return back to normal by the end of 2010. Consumption was slightly affected and is likely to expand due to strong factors regarding higher income of farmers, employment and increasing confidence of entrepreneurs and investors after the situation resolved. Coupled with measures initiated by the government to support private consumption such as the renewal of five living expenses reduction measures for six months, the five percent salary increase of state officials worth 3 million baht, and the campaign ‘Thai Teaw Thai’ which can be used as deductible expenses for 15,000 baht, the production and investment continued to expand. Nonetheless, there is a likelihood that Thailand may run the risk of facing the global economic downturn in the second half of the year owing to the fact that the short-term stimulus measures activated by various countries are about to end. The slow increase in inventory and debt crisis in Europe may result in
The meeting also considered about the progress of mega-projects investment. It is approved that the progress in question is now under the preparation process and will later be submitted to the cabinet for consideration. Moreover, the meeting suggested that the importance be given to the public participation from the start so that it will be accepted by the people in the areas. Also, the progress should strictly follow the laws especially in important projects such as
The meeting also assigned agencies to track the progress of the “
