CHIANG RAI, Nov 24 — The Thai government will implement four economic strategies aimed at building confidence among both domestic and foreign investors to stimulate Thailand’s economy, Commerce Minister Gen Chatchai Sarikulya said yesterday.
Speaking at a nationwide chambers of commerce seminar held in the northernmost province of Chiang Rai, Gen Chatchai said that the four strategies are building competitiveness for the Thai economy through restructuring the country’s production framework, restructuring toward the new industrial era, adjusting high value service sector and accelerating investment on basic infrastructure projects, especially in the transportation sector, as well as adjusting the logistics system aimed at reducing costs to 13 per cent from 15 per cent against the gross domestic product.
He said the government would adjust energy prices next year to reflect actual global prices, which would affect the public minimally.
The government would also cooperate with the private sector in developing a basic digital framework to enable Thailand to become more competitive at the international level, said Gen Chatchai.
The economic environment will have to be improved and the country must be more developed to become a gateway for ASEAN.
The second strategy calls for revamping the country’s education system so that it could answer to present and future economic problems, he said.
Reform for both the government and state enterprise sectors is contained in the third strategy while the last one focuses on elimination of corruption and creating transparency in business, Gen Chatchai said.
The government plans to invite the private sector into a business partnership having synergy with neighbouring countries, especially ASEAN members.
The government will stimulate the country’s economy through speeding 2015 fiscal budget disbursements and will spend more than Bt320 billion to help farmers and agriculturalists, he said.
The Board of Investment has approved promotional privileges for 380 investors with combined investment of Bt429 billion, Gen Chatchai, adding that he is optimistic that the country’s economy would start recovering in early 2015.
