Cabinet approves Thailand's investment in Dawei deep seaport project

BANGKOK, May 22 (TNA) - The Cabinet has approved Thailand's investment plan under the Dawei deep seaport development project of neighbouring Myanmar. Deputy Government Spokesman Chalitrat Chantarubeksa announced the Thai Cabinet's resolution, after its weekly meeting on Tuesday. Under the approved plan, Chalitrat said, the Ministry of Finance is officially authorized to assign Thailand's Neighbouring Countries Economic Development Cooperation Agency to take part in founding and investing in Dawei SEZ Development Company in the form of a special purpose vehicle (SPV) to then work with Foreign Economic Relation Department (FERD) of Myanmar on the Dawei deep seaport development project in their 50:50 stakes, but not exceeding 100 million baht. According to the deputy spokesman, the Thai Cabinet also approved to extend the diesel excise tax reduction for another month, until June 30, 2013, to help ease people's burden on rising costs of living. Besides, the Thai Cabinet endorsed the Ministry of Finance's proposed tax incentives for Thai business operators who organize their roadshows overseas to help boost national exports. Meanwhile, Government Deputy Spokeswoman Sunisa Lertpakawat then told a press conference that the government's draft budget bill for the 2014 fiscal year was set for the House's deliberation from May 29-31. (TNA)