Government to Launch Massive Public Works Program

[Jacob Maslow]

Government is set to launch a massive public works program that will improve the railway, roads and bridges with over $100 billion invested in the project.

Thailand has plans to improve the country’s infrastructure and spur economic growth. The government has announced $100 billion plans to improve roads and bridges throughout the country.

One major improvement will include the national rail system opening links into Southern China. After years of neglect, the country hopes to establish itself within the trans-Asian network of railways once again.

Reports state that the investment in infrastructure is due to abysmal economic growth in 2014. Estimates peg the country’s growth to be only 3 percent in 2015. Exports have been one of the country’s major issues in recent years. Uncertainty in foreign markets are also to blame for the weak economy.

Transportation and infrastructure delays over the past years are blamed on political conflict. The 7-year plan that will inject $100 billion into the economy is a necessity states Thanomsiri Fongarunrung, an economist. The main focus of the investments will be put toward the railway system.

The railway is set to switch to two tracks, allowing trains to go in each direction. Speeds of 180 km/h are expected. One of the major links that have been planned connects Map Ta Phut and Nong Khai.

Investments in the project will come from China. The country has signed an agreement that will finance the new tracks. Thailand will be responsible for the network’s operation and will be required to repay China from the proceeds. Japan and South Korea also had interest in funding the project, but China was the first to sign an agreement of understanding.

In total, the network will contain six double tracks that span over 900 kilometers. Initial estimates for the project are $4 billion.

China will finance only part of the project with the Thailand government funding the rest.

Studies have shown that if the country can begin working on infrastructure this year, a raise in the country’s GDP is expected.

-- 2015-02-11

[shirtless]

I hope they get it right , but i think only the chosen few will benefit from this as history in Thailand often repeats itself, open and transparent bidding for these contracts is required.will it happen

[rabid old goat]

Uncertainty in foreign markets are also to blame for the weak economy.

damn farang its all their fault!

[rabid old goat]

no, what we want is a wastewater drainage system like they have in farangistan. no more putrid stink!

[ourmanflint]

There is no reason why Bangkok could not have as good a waste system as London does now. They are about the same size and at same height above sea level, yet Bangkok is still 150 years behind London in dealing with this one simple but fundamental problem. That and putting all cables underground should be part of any major improvement, both of these things are far more important in the long run than vanity projects like new railways etc. Until these two things are done Bangkok will always be some kind of modern slum.

[rickirs]

Another day, another Government plan to invest in the infrastructure.

But only if it can't another country to make that investment, and even then it will continue to stall. In fact just a couple days ago, despite frantic pleas from the business sector to make investments in the infrastrucure NOW, Deputy Prime Minister M.R. Pridiyathorn Devakula declared:

"the government will not be implementing a second round of economic stimulus package in light of indications that previous budgetary injections have made a significant impact on the country's economy." 2015-02-07

And yet just a week ago Bank of Thailand Governor Prasarn Trairatvorakul said that Thailand's gross domestic product could expand by 4% this year "when capital from government investment enters the economic system"

Sorry, but there will be no further government stimulus and you can forget the 4% GDP growth: "Estimates peg the country’s growth to be only 3 percent in 2015." Frankly, 2-2.5% GDP growth appears to be a more reasonable expectation.

Edited February 11, 2015 by rickirs

[Yme]

Where did this come from? Lots of inaccuracies, including "The country has signed an agreement that will finance the new tracks."

No financing is in place.