Thailand Plans US$70 bln Infrastructure Investment: PM

[webfact]

Thailand plans $70 bln infrastructure investment: PM

Bangkok, March 24, 2012 (AFP) - Thailand will spend more than $70 billion on infrastructure over the next five years, Prime Minister Yingluck Shinawatra said as he outlined the challenges facing the country after last year's floods.

In an address late Friday to the Foreign Correspondents' Club of Thailand, Yingluck said her government would pursue an economic policy aimed at boosting domestic demand.

It would also "approve a five-year plan to invest around $72 billion in infrastructure and property enhancing Thailand's long-term competitiveness and to improve the quality of life of Thai people," she said, pointing to a planned high speed train line from Bangkok to the northern city of Chiang Mai.

Separately, she said the country would invest $11.4 billion in water management measures to ensure there was no repeat of the devastating floods which left more than 800 dead and deluged hundreds of thousands of homes.

Last year's disaster also hit supply chains for Japanese automakers and Yingluck said steps would be taken to protect investment zones and industrial areas.

The floods were her first test after taking office in August following her party's resounding election victory.

In response to a question, Yingluck said she did not believe the floods or an increase in the minimum wage would scare foreign away firms.

The rise from 215 baht to 300 baht ($10) a day takes effect on April 1 in Bangkok and six other wealthier provinces.

She stressed that the minimum wage had not been raised in more than 10 years.

When foreign companies "invest in Thailand they won't see only the minimum wage packet, they see the long-term (potential) of Thailand and Thailand is still associated with its strategic location to connect to ASEAN and other countries in Southeast Asia," she said.

The prime minister said the government was investing in infrastructure to improve logistics and she believed "we will keep the confidence of the investors."

Yingluck also stressed her commitment to reconciliation following the 2010 Red Shirt protests against the previous government which brought Bangkok to a standstill and left more than 90 people dead, mostly civilians, in clashes with soldiers.

"Reconciliation is very important. We want to see Thailand move forward," she said, adding that it should come through dialogue in parliament rather than conflict on the streets.

The demonstrations came after years of political unrest that began months before a 2006 military coup that deposed Yingluck's brother, prime minister Thaksin Shinawatra, who is despised by the Bangkok elites but supported by many of the Red Shirts.

Asked how she would assess the fairness of the judicial system five years after the coup, to laughter and applause Yingluck replied: "I think you ask a very dangerous question."

-- (c) Copyright AFP 2012-03-24

[bigbamboo]

A dangerous question? For who?

Aside from that most important point is that the minimum wage in Thailand has not even kept close to inflation, especially in the past year, and that needs to be addressed throughout the country..

[givenall]

A dangerous question? For who?

Aside from that most important point is that the minimum wage in Thailand has not even kept close to inflation, especially in the past year, and that needs to be addressed throughout the country..

They have to recover all money that Thaksin lost and starting big projects is the easy way of skimming the treasury, even though going in debt and spending all this does not help the overall Thai people

[AleG]

20 gigabucks is a lot of tea money.

Expect to see a spike of luxury cars on the streets.

[phiphidon]

A dangerous question? For who?

Aside from that most important point is that the minimum wage in Thailand has not even kept close to inflation, especially in the past year, and that needs to be addressed throughout the country..

For anybody who questions the judiciary of course. Don't you remember the democrat "dissolution" case? Query the messenger not the message. There is to be no questioning of the judicial system - the junta made sure of that. For further reading on why the judiciary being too powerful is a bad thing read:

http://bangkokpundit.blogspot.com/2007/04/quis-custodiet-ipsos-custodes.html

[exeter]

Well its a bold gesture and it needs dealing with, so lets give the PM a nod for accepting that the infrastructure is in desperate need of some work, lets hope its good work that lasts and the vast majority of the money is spent on the actual projects, you know what I mean dont you, but lets be positive its a good and worthwhile move in the right direction.

Edited March 24, 2012 by exeter

[OzMick]

A dangerous question? For who?

Aside from that most important point is that the minimum wage in Thailand has not even kept close to inflation, especially in the past year, and that needs to be addressed throughout the country..

For anybody who questions the judiciary of course. Don't you remember the democrat "dissolution" case? Query the messenger not the message. There is to be no questioning of the judicial system - the junta made sure of that. For further reading on why the judiciary being too powerful is a bad thing read:

http://bangkokpundit...s-custodes.html

As no charges of perjury have been laid against any of the members of Thaksin's family who lied under oath for him, she can afford to laugh at the question. As the Mafia would say "It was just business."

[marquess]

No harm in spending money on the country's infrastructure providing it is done in such a way as to benefit everybody as opposed to a few people in one's home town. Their past record would suggest that it is likely to favour their strong holds.

[Buchholz]

.

In just two schemes...

2,210,040,000,000.00 Baht + 349,923,000,000.00 Baht = a staggering expenditure

.

[cdmtdm]

lets hope the money to be spent is better managed than the police accom/stations fiasco .... one company employed to do all the construction on 160 plus sites and under the control of one police official ... all unfinished and left in various stages of construction ... guess where the money went ??? lol

[Unkomoncents]

Sure are scant on the details of what they hope to do, specifically (a high-speed rail link? They've proposed that a number of times over the years and it never leaves the proposal-stage), with all that money. They sure do have a pretty specific figure for the cost of the alleged investments, though. I won't believe any of it until I personally see the infrastructure operating (should be a few decades from now, at least).

[473geo]

.

In just two schemes...

2,210,040,000,000.00 Baht + 349,923,000,000.00 Baht = a staggering expenditure

.

Indeed staggering..... how poor previous investment must have been to warrant such a high expenditure

[Buchholz]

.

In just two schemes...

2,210,040,000,000.00 Baht + 349,923,000,000.00 Baht = a staggering expenditure

.

Indeed staggering..... how poor previous investment must have been to warrant such a high expenditure

Makes one wonder what those that were in control of the Treasury for the majority of the past dozen years did with the billions allocated during their administrations that were for the same things that these same people now need to allocate trillions.

.

Edited March 24, 2012 by Buchholz

[phiphidon]

.

In just two schemes...

2,210,040,000,000.00 Baht + 349,923,000,000.00 Baht = a staggering expenditure

.

Indeed staggering..... how poor previous investment must have been to warrant such a high expenditure

Makes one wonder what those that were in control of the Treasury for the majority of the past dozen years did with the billions allocated during their administrations that were for the same things that these same people now need to allocate trillions.

.

Makes you wonder what happened to the 1.43 trillion baht/45 billion dollar development project under Abhisit "Investing from Strength to Strength" back in 2009? I'm sure the BJP did well out of the dust free road project but what happened to the rest?

[hellodolly]

Did it not strike any one as odd that they had the nerve to print the truth.

quote

"Prime Minister Yingluck Shinawatra said as he outlined the challenges facing the country after last year's floods.

[Reasonableman]

Makes me wonder how the country can afford to take on more debt when we have another 28(?) years to pay off 1997 Tom Yam Goong fiasco. Just put it on The Card.

.

In just two schemes...

2,210,040,000,000.00 Baht + 349,923,000,000.00 Baht = a staggering expenditure

.

Indeed staggering..... how poor previous investment must have been to warrant such a high expenditure

Makes one wonder what those that were in control of the Treasury for the majority of the past dozen years did with the billions allocated during their administrations that were for the same things that these same people now need to allocate trillions.

.

Makes you wonder what happened to the 1.43 trillion baht/45 billion dollar development project under Abhisit "Investing from Strength to Strength" back in 2009? I'm sure the BJP did well out of the dust free road project but what happened to the rest?

[473geo]

.

In just two schemes...

2,210,040,000,000.00 Baht + 349,923,000,000.00 Baht = a staggering expenditure

.

Indeed staggering..... how poor previous investment must have been to warrant such a high expenditure

Makes one wonder what those that were in control of the Treasury for the majority of the past dozen years did with the billions allocated during their administrations that were for the same things that these same people now need to allocate trillions.

.

But not in the years since the 2006 coup surely.....Thailand have the legal checks and balances in place to control the government, and if there had been any significant irregularities they would have been highlighted and the culprits facing the full and unbiased effect of the law as they have in the past

So really your comment is nonsensical yes? Unless the legal controls have failed then surely they are now redundant?

[ginjag]

Regarding the rail link to her favourite city, it ends at that point. And it incorporates only one of the top 7 cities in the Kingdom.  Looking from an unbiased point, isn't it more sense to have the rail link VIA Korat=Khon Khen=Udon Thani-to Nong Khai= to then transfer to rail into Laos. This route would be more profitable because it's end is at a border--and it incorporates 3 of the 7 largest cities of Thailand, thus having more customers to serve, leading to more profit---anyone agree???   This Chiang Mai line makes me pewk to the fact thats it is for her and family benefit-and other hangers on.

[moe666]

A dangerous question? For who?

Aside from that most important point is that the minimum wage in Thailand has not even kept close to inflation, especially in the past year, and that needs to be addressed throughout the country..

For anybody who questions the judiciary of course. Don't you remember the democrat "dissolution" case? Query the messenger not the message. There is to be no questioning of the judicial system - the junta made sure of that. For further reading on why the judiciary being too powerful is a bad thing read:

http://bangkokpundit...s-custodes.html

What are you talking about the PMs address was about infastructure spending, stay on topic.

[moe666]

Regarding the rail link to her favourite city, it ends at that point. And it incorporates only one of the top 7 cities in the Kingdom. Looking from an unbiased point, isn't it more sense to have the rail link VIA Korat=Khon Khen=Udon Thani-to Nong Khai= to then transfer to rail into Laos. This route would be more profitable because it's end is at a border--and it incorporates 3 of the 7 largest cities of Thailand, thus having more customers to serve, leading to more profit---anyone agree??? This Chiang Mai line makes me pewk to the fact thats it is for her and family benefit-and other hangers on.

More tourist go to Chiang Mai than the combined number of the cities mentioned

[ginjag]

Moe  your answer is a little too clever, Who mentioned tourists ???? we are talking about movement of persons. Please add up the population of Issan for starters, and visa runs- you are merely putting air travel to air travel are you not ???  Please think about reality NOT a defense of the P.Ms policy. By the way how do you know Chiang Mai has more tourists ??  who measures people movement. just take into account the number of public and private transport to Korat---Khon Khen--Udon--Laos and Nong Khai. Thai people are the biggest travellers-not Foreign tourists. you wish to disagree again, suppose so.

[Nisa]

Regarding the rail link to her favourite city, it ends at that point. And it incorporates only one of the top 7 cities in the Kingdom. Looking from an unbiased point, isn't it more sense to have the rail link VIA Korat=Khon Khen=Udon Thani-to Nong Khai= to then transfer to rail into Laos. This route would be more profitable because it's end is at a border--and it incorporates 3 of the 7 largest cities of Thailand, thus having more customers to serve, leading to more profit---anyone agree??? This Chiang Mai line makes me pewk to the fact thats it is for her and family benefit-and other hangers on.

More tourist go to Chiang Mai than the combined number of the cities mentioned

I suspect tourists have nothing to do with building this line.

[473geo]

Regarding the rail link to her favourite city, it ends at that point. And it incorporates only one of the top 7 cities in the Kingdom. Looking from an unbiased point, isn't it more sense to have the rail link VIA Korat=Khon Khen=Udon Thani-to Nong Khai= to then transfer to rail into Laos. This route would be more profitable because it's end is at a border--and it incorporates 3 of the 7 largest cities of Thailand, thus having more customers to serve, leading to more profit---anyone agree??? This Chiang Mai line makes me pewk to the fact thats it is for her and family benefit-and other hangers on.

More tourist go to Chiang Mai than the combined number of the cities mentioned

I suspect tourists have nothing to do with building this line.

There will be passenger traffic but it will link nicely into the Tavoy ITD project, where are China to bring in their rail link if they do?

[ginjag]

Moe, regarding #24, can or will you please answer my reply ?? or are you trying to find a way out of it.

[peecee]

A dangerous question? For who?

Aside from that most important point is that the minimum wage in Thailand has not even kept close to inflation, especially in the past year, and that needs to be addressed throughout the country..

So the previous nine kept up with inflation then?

[peecee]

A dangerous question? For who?

Aside from that most important point is that the minimum wage in Thailand has not even kept close to inflation, especially in the past year, and that needs to be addressed throughout the country..

For anybody who questions the judiciary of course. Don't you remember the democrat "dissolution" case? Query the messenger not the message. There is to be no questioning of the judicial system - the junta made sure of that. For further reading on why the judiciary being too powerful is a bad thing read:

http://bangkokpundit...s-custodes.html

What are you talking about the PMs address was about infastructure spending, stay on topic.

Yellow card from a non mod? Wasn't she asked about the judicial (bent) system? Even if she side-swiped it & who can blame her!

[Buchholz]

In just two schemes...

2,210,040,000,000.00 Baht + 349,923,000,000.00 Baht = a staggering expenditure

Indeed staggering..... how poor previous investment must have been to warrant such a high expenditure

Makes one wonder what those that were in control of the Treasury for the majority of the past dozen years did with the billions allocated during their administrations that were for the same things that these same people now need to allocate trillions.

But not in the years since the 2006 coup surely.....Thailand have the legal checks and balances in place to control the government, and if there had been any significant irregularities they would have been highlighted and the culprits facing the full and unbiased effect of the law as they have in the past

So really your comment is nonsensical yes? Unless the legal controls have failed then surely they are now redundant?

Nonsensical? What is nonsensical about it?

For the past dozen years there has been corruption on these mega-projects. Additionally, over the past 12 years, a current fugitive has been in control for the majority of that time.

There's also no indication that rather than attempt to overcome this corruption, that the same current fugitive is truly repentant and will now spend the new unprecedented amounts in some honest, altruistic manner.

No indication, that is, other than the wing and a prayer that you express.

.

[noitom]

Thailand should be focusing on kicking the corruption/"tea money" sickness as it has now become a huge chunk of costs. Investing this proposed magnitude of tax payer baht without eliminating corruption only inflates the cost and downgrades the quality, safety, and security. The second point is looking at the security issue itself. Thailand is poorly lacking in all forms of security and enforcement of law. Building all this new infrastructure with tax baht to curry favor with foreign investors without attacking corruption, security, enforcement of law, safety standards and eliminating privileged class bid rigging is preposterous and frivolous and the press should be indicating this in offsetting editorial content.

[Reasonableman]

Have they moved Dawei to Chiangmai now?

Regarding the rail link to her favourite city, it ends at that point. And it incorporates only one of the top 7 cities in the Kingdom. Looking from an unbiased point, isn't it more sense to have the rail link VIA Korat=Khon Khen=Udon Thani-to Nong Khai= to then transfer to rail into Laos. This route would be more profitable because it's end is at a border--and it incorporates 3 of the 7 largest cities of Thailand, thus having more customers to serve, leading to more profit---anyone agree??? This Chiang Mai line makes me pewk to the fact thats it is for her and family benefit-and other hangers on.

More tourist go to Chiang Mai than the combined number of the cities mentioned

I suspect tourists have nothing to do with building this line.

There will be passenger traffic but it will link nicely into the Tavoy ITD project, where are China to bring in their rail link if they do?

[MaiChai]

The poo yais would never travel in trains so that is why Thailands trains are third world? Lets face it, Thailand has lots of good roads. If they want to spend some money, the train system desperately needs updating. However, a fast train to Chiang Mai doesn't seem a priority. The whole system needs updating. Going to Hua Lampong station in Bangkok is like stepping back in time 50 years!

Edited March 25, 2012 by MaiChai