Thailand plans 1.19 trillion baht public-private investment projects during 2020-2027

THAILAND plans public-private partnership investment projects worth 1.19 trillion baht (S$44.5 billion) during 2020 to 2027, the government said on Friday (Feb 16), as it tries to boost long-term economic growth.

The revised amount is slightly higher than 1.17 trillion baht previously approved and aims to attract more private companies to invest in government projects.

The public-private partnership committee also approved an investment worth about 18.4 billion baht at Laem Chabang port in the eastern province of Chonburi, it said in a statement.

The government will also expedite other infrastructure projects which have high economic value, it said, as South-east Asia’s second-largest economy has lagged regional peers.

The finance ministry has forecast only 2.8 per cent growth this year after 1.8 per cent growth estimated for 2023, a sharp downgrade from earlier forecasts.

Official 2023 gross domestic product is due on Monday. The economy expanded 2.6 per cent in 2022. REUTERS