Finance Min boasts visible economic improvement over the past 6 month
The Ministry of Finance's Permanent Secretary Rangsan
Sriworasart, claims his agency's 6-month performance report,
scheduled to be released on Wednesday, would show the public
visible improvement in Thailand's economy under its management,
saying that the only recent matter of concern is the slowing
growth of exports.
He said the government's stimulus package helped the recovery of
local spending; citing the amount of Value Added Tax (VAT)
collected during the first quarter of this year had increased by
1%. The figure consists of a 10.5% increase in domestic VAT on
spending, Mr. Rangsan indicated, adding however that the VAT on
imports was at a negative 11%, due to the lower global fuel
Meanwhile, the Permanent Secretary pointed out that local
investment has also shown signs of recovery, with March cement
sales growing 0.6%, adding that capital goods imports during the
period also expanded 5.9%.
Mr. Rangsan said, although export growth figures to China, Japan
and the European Union in February are still negative, the
figures were positive for the U.S., ASEAN member countries and
the CLMV nations, which are Cambodia, Laos, Myanmar and Vietnam.
He concluded that Thailand's overall economic outlook remains
strong with a high volume of foreign exchange reserves.
Permanent Secretary Rangsan also disclosed that last month's
tourism sector grew 23%, while adding the international
community still viewed the Kingdom as favorable for investment.
BOI approved 460 projects, worth over THB100,000m in Jan-Feb 2015
The Board of Investment (BOI) approved 460 projects applying for
investment promotional privileges during January to February 2015. These
projects involve more than THB115,000 m in investment capital and have
created 31,000 job opportunities, according to acting BOI
Secretary-General Hirunya Suchinai.
The approved projects have begun their operations one after another,
particularly those producing automobile parts and electronic equipment.
Hirunya said those investments demonstrated investors’ confidence in
Thailand’s potentials as industrial production base and proved the
country's attractiveness to new investors.
Last week, she said, the BOI meeting chaired by Prime Minister Gen
Prayut Chan-o-cha approved ten more projects worth around THB28,000m.
They include, among others, an auto part factory, a Biomass power plant
and international exhibition centers. (NNT)
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