InfoQuest (September 06, 2019) -- Deputy Prime Minister Somkid Jatusripitak reckoned that Thailand will enjoy a sound and growing economy in the 4th quarter in 2019. The main reasons include: many large projects have obtained funds and their construction has begun; the Ministry of Finance and the Ministry of Commerce have issued economic stimulus measures, especially those helping farmers. The liquid capital enabled by those economic stimulus measures will boost economic growth in the 4th quarter in 2019. Meanwhile, the Eastern Economic Corridor (EEC) project will attract emerging industries to make investments there.
"During the past three months/a whole quarter when we waited for the formation of a new cabinet, none of the government's expenditure targets has been delivered. Though government agencies and state-owned enterprises are the only factor that the government can control, it can do nothing when an election is not yet over. It has to wait till situations become clear. Unsure of the political dynamics of Thailand and that who will be the new prime minister, private sector delayed investments. Plus the impacts of trade war, we have seen the unsatisfactory data of Thai economic growth in the 2nd quarter," said Deputy Prime Minister Somkid.
As for the economic cabinet meeting scheduled on tomorrow (September 6), the Deputy Prime Minister said that the Board of Investment of Thailand (BOI) will submit measures in boosting investment.
"First we will listen to the proposal of BOI, and then determine the specific investment promotion measures for each industry, so as to attract investors who are planning to relocate their production bases to make investments in Thailand," said the Deputy Prime Minister.
Source: InfoQuest, by Nisarat Wichiensri / Rachada / Sasithorn, translated by Xinhua Silk Road
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