Thailand Pursue the Slight Lag of Infrastructure Development Sector
BANGKOK - Thailand Government plans to continue the development of various infrastructure projects which has been delayed. This is conducted to re-drive the economic growth in these countries which now only rely on the tourism sector for the revenues.
So far up to January 2017 the funds that spent for infrastructure development in Thailand only 760 million US dollars. Hence, the significant progress of development in this country still has not seen. The stagnant situation occurs due to the military coup that happened in Thailand nearly two years ago, and now the finance minister reiterated that Thailand seeks to catch up the lag.
"The only problem is government regulation, which makes people afraid to do something because they have to be careful and make everything right," said Finance Minister Thailand Apisak Tantivorawong, as reported from Republika.co.id (03/13/2017).
Apisak explains that disbursement of funds for all infrastructure projects will be threefold this year to 240 billion baht. With two-thirds of that funds is channelled for large transportation projects. "Conduct something which could help growth exceeding 3,6 percent of the ministries growth target," he said.
Thailand's economic growth rate is only 3,2 percent and it creates lagged from the other ASEAN countries. To improve the economy condition this year, Thailand began to open five projects of trains double track worth 2,9 billion US dollars.
To expedite the project, Thailand formed a new committee to oversee the projects that will be conducted this year. "We want a big project could be finished as soon as possible," said Vice Prime Minister Thailand, Somkid Jatusripitak.