Thai government to proceed with economic reform

BANGKOK, January 29 (TNA) - The Thai government insists on proceeding with the national economic reform for sustainable development. Thai Deputy Prime Minister MR Pridiyathorn Devakula confirmed the government's move at a public discussion on Thailand Moving Forward, held in Bangkok on Thursday. MR Pridiyathorn noted that Thailand is carrying on national reform in all areas, including economy toward its stable and sustainable growth and domestic politics based on the democratic system, calling on international investors to be confident that the Thai government will proceed with the policy no matter what political party heads the national administration after the ongoing national reform process. MR Pridiyathorn revealed that the national reform covers that in the local production sector to boost the national competitiveness and economy, as well as Thai exports in the long-run. MR Pridiyathorn projected that the Thai economy should recover this year, boosted by the government's investment, which would also stimulate investment in the private sector. The deputy prime minister pointed out that the value of international investment projects seeking promotional privileges from the Board of Investment of Thailand (BOI) has peaked in 50 years. According to the deputy prime minister, other factors to help boost the national economy this year include political and economic reform attempts by the incumbent Thai government, after the national economic growth had been limited at about 3 per cent yearly by domestic political problems over the past five years and the national economic growth rate even stood only at 1 per cent last year. The deputy premier acknowledged that the interim government of Prime Minister General Prayut Chan-ocha is also developing Thailand into a regional center of production, while applying tax incentives to encourage international businesses to set up their overseas headquarters in the Thai economy and promoting domestic investment in digital economy. (TNA)