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Agricultural Development Bank of China
InfoQuest

Thai Finance Minister to submit inv't promotion plan for economic growth

January 21, 2020


Abstract : Thai Finance Minister Mr. Uttama Savanayana revealed that Thai Ministry of Finance plans to formulate investment promotion plan to boost domestic investment, invest in and grow basic economy, and stimulate domestic consumption, all key measures for better economic growth in Thailand.

InfoQuest (January 20, 2020) -- Thai Finance Minister Mr. Uttama Savanayana revealed that the government has issued a policy to define the year 2020 as a year for investment; Thai Ministry of Finance plans to formulate investment promotion plan to boost domestic investment, invest in and grow basic economy, and stimulate domestic consumption, all key measures for better economic growth in Thailand.

The plan is expected to be completed and submitted to cabinet meeting for deliberation within the first quarter of 2020. It will encourage private sector to make more investments in this year, and the investments will boost employment and promote the circulation of domestic expenditure and consumption.

"We hosted a meeting to make preparations for the issuing of series of measures, aiming to support and accelerate investment. The government has announced that this year is a year for investment, which is something we have to do. According to national strategy, we will reform the country, for which we have to make investments for the future. Amid the abnormal external economic circumstances this year, we have to ensure a booming scene of economic activities at home. It is imperative for us to boost domestic economy, which makes investment a key task," noted the Finance Minister.

He also noted that at present the Ministry of Finance and relevant departments are considering the formulation of appropriate measures, such as encouraging private sector to transform production techniques and replace machinery; and making financing accessible to enterprises. At appropriate time, comprehensive measures will be formulated, which are supposed to be more enabling than previous ones.

"I believe that new measures will be more forceful than previous ones. At this point, private sector still needs investments. Of course, investment climate is also a key factor. The forthcoming special measures will further stimulate them to make investments," said Mr. Uttama.

Source: InfoQuest, by Kasamarporn Kittisamphan /Wilawan, translated by Xinhua Silk Road

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Keyword: economic growth Thai Finance Minister investment promotion

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