Thailand Future Fund to be soon set up

BANGKOK, July 8 (TNA) - The Cabinet is expected to approve the establishment of Thailand Future Fund in the near future to finance the government's infrastructure projects, including those on rail and digital development. Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, told a seminar, entitled “Bangkok Nikkei Forum 2016”, in the capital on July 7 that he will propose the planned establishment of the 100-billion baht-Thailand Future Fund to the Cabinet for further consideration and action over the next two weeks. Somkid stressed that the Thailand Future Fund, if approved, will finance the government's infrastructure development projects including those on digital systems to serve online businesses of local entrepreneurs and to connect with growing regional and global Internet networks, paving the way for the Thai Kingdom to become an Internet hub in the ASEAN Community (AC), which will also help strengthen Thailand's cooperation with neighbouring Cambodia, Laos, Myanmar and Vietnam. Besides, the Thailand Future Fund will sponsor the government's mass rail transit systems, the development of new cities and the upgrade of Laem Chabang Deep Seaport, Map Ta Phut Industrial Estate and U Ta Pao Airport to link with the country's main Suvarnabhumi International Airport and Don Mueang Airport under its Eastern Economic Corridor Project. According to the deputy prime minister, the Thai government will also proceed with the domestic production restructuring, focusing on increasing innovations and value-added designs, along with promoting future industries, farm technologies and petrochemical, aviation and logistics industries, as well as supporting startups operators in various targeted businesses. (TNA)