Thailand Moves Ahead With Ambitious Mega-Infrastructure Project

[webfact]

Thailand moves ahead with ambitious mega-infrastructure project

BANGKOK, Aug 29 – Finance Minister Kittiratt Na-Ranong stood firm Wednesday that the government will go ahead with an ambitious plan of mega-infrastructure investment without exceeding the public-debt-to-GDP ratio of 60 per cent.

Speaking on “The Changing Face of Thailand,” Mr Kittiratt, also deputy premier, expressed his confidence in Thailand’s economic growth despite global economic volatility, saying the government is emphasizing infrastructure investment, valued at two trillion baht, which will become a tool in connecting low-income and high-income countries in the ASEAN region to work together for communication, trade and investment development.

He called on the Thai Parliament to pass the government-proposed law on public-private sector partnership to enable public-private investment for the country’s infrastructure projects. The government is currently working on an infrastructure fund to be submitted to the Securities and Exchange Commission to be listed in the stock market.

Mr Kittiratt was a key speaker in a seminar on “Thailand Focus 2012” organised by the Stock Exchange of Thailand (SET) on Wednesday.

SET President Charamporn Jotikasthira, addressing the seminar, said the impact on Thailand from the European Union’s economic crisis, including SET-listed companies, has been slight.

He said executives of major companies in ASEAN countries including Laos, Cambodia and Vietnam were invited to the seminar so that the Indochina economies will be adjusted to the direction beneficial to SET-listed companies in Thailand.

Bank of Thailand Governor Prasarn Trairatvorakul, in his speech on “Thailand’s Monetary Market vis-à-vis Global Funds,” warned that the impact of the EU crisis towards Thailand’s trade will arise next year.

However, Thailand will be able to cope with it thanks to her strong economy and fundamentals. (MCOT online news)

-- TNA 2012-08-29

[bkkjames]

Pass me the chocolate FUDGE lol (or should I say little white piece of fudge?)

Edited August 29, 2012 by bkkjames

[BeforeTigers]

Infrastructure such as...... ?

[DNPBC0]

'Mega-infrastructure investment' in exactly what? .....And, when he tells us, how exactly will the specific projects help Thailand? If the European crisis doesn't hit Thailand, an ensuing global recession certainly will. If this doesn't happen, then the continuing increase in demand for oil and rise in the price of oil will wreak major havoc in Thailand.

[OzMick]

Infrastructure such as...... ?

........a high speed train to Chiang Mai (aka The Hi-So Express), while downgrading improvements to the existing rail system, especially in the south where they don't vote the party line - paybacks are a bitch!

[dcutman]

The government is currently working on an infrastructure fund to be submitted to the Securities and Exchange Commission to be listed in the stock market.

Would this be considered a JUNK BOND?

[DNPBC0]

"SET President Charamporn Jotikasthira, addressing the seminar, said the impact on Thailand from the European Union’s economic crisis, including SET-listed companies, has been slight."

I suppose it depends on what he means by 'slight', but see this item also on MCOT today:

http://www.mcot.net/cfcustom/cache_page/406499.html#.UD3bMOSX6-I.twitter

[KireB]

As he has no clue what to invest in yet, he will proudly present the contents of a new lunch box for the high speed train to 'soon to be decided'. What he does know already is the budget. Inverse reasoning in my opinion.

Edited August 29, 2012 by KireB

[davejones]

'Mega-infrastructure investment' in exactly what? .....And, when he tells us, how exactly will the specific projects help Thailand? If the European crisis doesn't hit Thailand, an ensuing global recession certainly will. If this doesn't happen, then the continuing increase in demand for oil and rise in the price of oil will wreak major havoc in Thailand.

If there's a world recession then the price of oil will fall not rise. People have been making claims about the price of oil for decades, yet the price is still ok. If oil becomes too expensive, then it will be replaced with something else. So it's not a problem.

[Pseudolus]

No wonder he is smiling as he tells everyone 2 trillion will leave the Thai treasury soon, and no information about where it will go and what it will be spent upon. Hope he remembers to follow the rules about Contract awards in Thailand

[OzMick]

'Mega-infrastructure investment' in exactly what? .....And, when he tells us, how exactly will the specific projects help Thailand? If the European crisis doesn't hit Thailand, an ensuing global recession certainly will. If this doesn't happen, then the continuing increase in demand for oil and rise in the price of oil will wreak major havoc in Thailand.

If there's a world recession then the price of oil will fall not rise. People have been making claims about the price of oil for decades, yet the price is still ok. If oil becomes too expensive, then it will be replaced with something else. So it's not a problem.

I await with interest your answer to where 86% of man's energy requirements will come from as fossil fuels are depleted and become more expensive.

[Rancid]

As I understand it. Mercedes dealers organises an in promptu celebration at the good news.

[h90]

'Mega-infrastructure investment' in exactly what? .....And, when he tells us, how exactly will the specific projects help Thailand? If the European crisis doesn't hit Thailand, an ensuing global recession certainly will. If this doesn't happen, then the continuing increase in demand for oil and rise in the price of oil will wreak major havoc in Thailand.

How does it matter? You build Mega-Projects to put MegaBahts in your pocket. Sure he will find something to spend the money! A third airport, a high speed train from Ban Nok to Kwaiburi

[givenall]

Pass me the chocolate FUDGE lol (or should I say little white piece of fudge?)

Is this another white lie?

[seminomadic]

'Mega-infrastructure investment' in exactly what?

Y'know.................. stuff...

how exactly will the specific projects help Thailand?

It just will, ok?

[Tonykalniev]

'Mega-infrastructure investment' in exactly what? .....And, when he tells us, how exactly will the specific projects help Thailand? If the European crisis doesn't hit Thailand, an ensuing global recession certainly will. If this doesn't happen, then the continuing increase in demand for oil and rise in the price of oil will wreak major havoc in Thailand.

Well, you have given part of the answer on what the money will be spent on. but its not for the people. the rich here are just going to split this money among themselves and save themselves for when these crisis arrive...

[jackr]

It would be nice to see some of this budget go to improving the lives of the people directly, ie: teaching the teachers. Surely a more pressing issue than ultimately trying to gain face by bigging it up, to be something Thailand just is not. Singapore is a whole 'nother universe.

[Pseudolus]

It would be nice to see some of this budget go to improving the lives of the people directly,

It is - according to the UN corruption scale, at least 33% of this will improve the lives of a select group of people.

[animatic]

Mega profits for those in charge.

Mega rectal insertion for the average Thai person.

[jcw]

No wonder he is smiling as he tells everyone 2 trillion will leave the Thai treasury soon, and no information about where it will go and what it will be spent upon. Hope he remembers to follow the rules about Contract awards in Thailand

I don't see any difference after the bath of money?

[MaiChai]

My observation: things might be more expensive in the Uk and we might pay more taxes, but I do see more government money come to the ordinary person than I do in Thailand. So where does the money go?

[Ricardo]

Hope that Finance Minister "White Lie" Kittiratt's 'public-private-partnership' isn't related to the disastrous UK-model, which saddles local/national government with long-term costs & the private-sector investors with guaranteed-profits, in an attempt to keep the major-projects off the government's accounts/borrowing-figures ?

Is this announcement a statement-in-disguise, that the government actually does have liquidity-problems after all, and is unable to pay for the lavish 'pre-election promises' ? Surely not !

[AleG]

My observation: things might be more expensive in the Uk and we might pay more taxes, but I do see more government money come to the ordinary person than I do in Thailand. So where does the money go?

To the extraordinary people, of course.

[Unkomoncents]

You know corruption has become a problem in a country when the government issues statements in which the only apparent policy direction/goal is to make money disappear (two trillion baht, in this case). God bless Thailand. The unintentionally funny are always the funniest, and it's a good thing too or everything would just be really sad.

[Greer]

No wonder he is smiling as he tells everyone 2 trillion will leave the Thai treasury soon, and no information about where it will go and what it will be spent upon. Hope he remembers to follow the rules about Contract awards in Thailand

I don't see any difference after the bath of money?

Well spotted, that man!

[AleG]

No wonder he is smiling as he tells everyone 2 trillion will leave the Thai treasury soon, and no information about where it will go and what it will be spent upon. Hope he remembers to follow the rules about Contract awards in Thailand

I see the difference!, in one of the photos there's a Transport Ministry bureaucrat riding to work on the Skytrain, on the other he is driving a Porsce on the way to the golf course.

Edited August 30, 2012 by AleG

[drdoom6996]

Liar

[rakman]

'Mega-infrastructure investment' in exactly what? .....And, when he tells us, how exactly will the specific projects help Thailand? If the European crisis doesn't hit Thailand, an ensuing global recession certainly will. If this doesn't happen, then the continuing increase in demand for oil and rise in the price of oil will wreak major havoc in Thailand.

If there's a world recession then the price of oil will fall not rise. People have been making claims about the price of oil for decades, yet the price is still ok. If oil becomes too expensive, then it will be replaced with something else. So it's not a problem.

I await with interest your answer to where 86% of man's energy requirements will come from as fossil fuels are depleted and become more expensive.

Fossil fuels are not depleted. It is lack of political will that keeps drilling from developing new fields. New technology had provided nearly trillions of barrels available to be ready for extraction.