Finance Minister Apisak Tantivorawong(Photo: bangkokpost.com)Bangkok (VNA) –Borrowing will be the largest funding source for the Thaigovernment’s 20 infrastructure projects, providing 60 percent of the totalvalue of 1.7 trillion THB (48.1 billion USD), said Finance Minister ApisakTantivorawong.
For the rest, 20 percent will come from the public-private partnership (PPP)scheme, 10 percent from government’s budget, 2 percent from the Thailand FutureFund (TFF) through the initial public offering while the remainder will beraised from state-owned enterprises’ income.
The country’s public debt currently stands at 43 percent, which is still farbelow the Finance Ministry’s 60 percent threshold.
The Thai Finance Ministry has submitted an IPO filling for the TFF to theSecurities and Exchange Commission (SEC). It is estimated that 100 billion THB(2.8 billion USD) shares will be offered to public in a couple of months.
In December 2016, the Thai cabinet approved the launch of the TFF, aiming tomobilise cash from the public for the state’s construction projects. The fund willhelp the government have more room to invest in infrastructure projects withlower investment returns.
The government will pay heed to spending on large-scale infrastructuredevelopment projects to lure more private investment in the Eastern EconomicCorridor (EEC) as a boost to the economy.
Earlier, the cabinet also adopted a Finance Ministry proposal on personalincome tax imposed on foreign workers at companies investing in targetedindustries in the EEC.-VNA
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