Thailand hopes to draw new mega FDI projects

BANGKOK, September 29 (TNA) - Thailand hopes to attract new mega-foreign direct investment (FDI) projects after Prime Minister Yingluck Shinawatra's visit to the United States earlier this week to attend the 67th United Nations General Assembly in New York. Speaking during Premier Yingluck's recorded weekly broadcast program Saturday morning, Deputy Prime Minister and Finance Minister Kittirat Na-Ranong, who is a member of the Thai prime minister's entourage during her New York's trip, said that he has explained the overall and updated situation in Thailand to international investors while attending the 67th UN General Assembly, which is believed to help restore their confidence in the Thai economy. Kittirat acknowledged if major foreign financial institutes gain confidence in Thailand, they will be willing to invest in the Kingdom, particularly on integrated mass transit rail systems, and that the Thai government plans to issue a new law allowing it to borrow some two trillion baht, including those from the overseas sources, along with the government's earmarked budget so that it will not pose a financial burden to the government. According to the deputy premier, the borrowing money will be spent on constructing mass transit rail systems in Thailand, as well as on developing major transportation routes and several other significant projects. The deputy premier said that several business operators in the Thai property, textile and food industries accompanied Premier Yingluck during her trip to New York to find their potential business partners, as they are now ready to expand their investment overseas. (TNA)