Thai government goes ahead with mega projects in eight years

BANGKOK, March 23 (TNA) - The Thai government plans to invest in 2-trillion-baht mega-infrastructure development projects over the next eight years and will welcome the private sector to participation in the public investment. Thai Finance Minister Sommai Phasee told the policy at a seminar on private participation in government projects, held in Bangkok on Monday morning. Sommai said that the Thai government has proceeded with many projects of the previous administration, including those on new electric rail tracks and comprehensive flood prevention. Sommai assured that the Thai government's investment in the 2-trillion-baht infrastructure projects will happen within the next eight years, noting that the government might borrow from overseas financial sources charging lower interest rates than local sources, citing the ASEAN Infrastructure Fund (AIF) of the 10-member Association of Southeast Asian Nations (ASEAN) and the ASEAN Infrastructure Financing Fund (AIFF) of China as examples. According to the finance minister, the drafting of a joint venture bill has been much progressed and the Thai government will invite the private sector to participate in the mega-projects in the near future, namely those on the construction of new rail tracks, linking Bangkok with Hua Hin in the Upper Thai South and Bangkok with the Thai East. (TNA)