Cabinet endorses bill on promotion of community enterprise

Cabinet endorses bill on promotion of community enterprise BURI RAM, May 8 (TNA) – The cabinet retreat in the northeastern province of Buri Ram on Tuesday approves the draft Community Enterprise Promotion bill to strengthen local communities. Deputy Agriculture and Cooperatives Minister Luck Wajananawat said that the bill will support community enterprises to register as juristic persons for their credibility, so they can be scrutinized like financial institutes and can carry out juristic act. Currently, there are 85,000 community enterprises and about 3,000 community enterprises have potentials for the registration. An Advisor to Prime Minister's Office Minister Nutthaporn Jatusripitak said that the registration as juristic persons will benefit the community enterprises to gain tax incentives and to be able to possess intelligence property. The draft bill will be proposed to the National Legislative Assembly for consideration. Moreover, the cabinet agreed in principle with the 20 billion baht budget for economic development plans of four lower northeastern provinces, comprising Nakhon Ratchasima, Chaiyaphum, Buri Ram and Surin. About one billion baht was approved to be urgently allocated for spending on development of water resources and infrastructure such as Buri Ram Airport and roads to serve the international sport stadium and motorsport track as well as to connect tourist destinations. (TNA)