Thailand sets $4.7 bil. infrastructure budget for 2014/15

Thailand's public debt management office has set an initial 150 billion baht ($4.67 billion) for infrastructure investments for the fiscal year starting Oct 1, its director general said earlier this week.

The investments will be mainly on infrastructure projects which are more feasible and approved by the ruling military council, Chularat Suteethorn told reporters.

It will propose the budget plan to the National Council for Peace and Order (NCPO) next week for approval, Chularat said.

The fiscal budget, borrowing and public-private partnerships (PPP) would be among the sources of funding, she said.

In a related story, China has affirmed its interest in taking part in Thailand’s basic infrastructure development, including projects that will provide better linkages throughout the country like high-speed rail, foreign ministry permanent secretary Sihasak Phuangketkeow said recently.

Sihasak, who also serves as acting foreign minister, was speaking after chairing a meeting in Beijing of Thai diplomats, government officials and businessmen working in China.

He was on an official visit to China to participate in the two-day second China-Thailand Strategic Dialogue.

“China has expressed continuing interest to take part in Thailand’s basic infrastructure developments such as the high-speed train, which will provide linkage for the region, and the water management project,” Sihasak said. “We have responded that the National Council for Peace and Order intends to proceed with the plan, provided there is transparency and the funding for the projects is manageable within the annual budget. China has accepted our stand in this regard.”