The Thai Cabinet approved on the 20th a budgeted economic stimulus plan amounting to 157 billion baht (approximately RM20.478 billion), which will focus on promoting community economy, tourism development, as well as strengthening agriculture and infrastructure construction.
The Thai Ministry of Finance proposed the plan based on the decision of the Economic Stimulus Policy Committee meeting on the 19th.
Thai Government Spokesperson Jirayu stated that the plan covers water infrastructure construction, transportation infrastructure construction, tourism development, promoting product exports and improving production efficiency, and developing community economy.
He mentioned that the funds involved are included in the fiscal year 2025 annual budget, primarily sourced from the central emergency fund.
Regarding the specifics of the plan, Jirayu pointed out that the first focus is on water infrastructure investment, including flood prevention during the rainy season, water storage during the dry season; supplying water to communities and agricultural areas nationwide; and the development and improvement of water supply systems.
The second focus is on transportation investment, including addressing traffic bottlenecks and gaps; improving travel and freight safety; resolving issues at railway and road crossings; construction and upgrading of parking and rest areas; improving and developing roads connecting secondary cities, tourist attractions, and production areas.
The third focus is on tourism development investment, including upgrading tourist attractions, sports facilities, and convenience facilities such as restrooms, accommodations, and signage; improving tourist convenience systems; enhancing tourism security by installing CCTV in major tourist cities; and stimulating domestic tourism, particularly in secondary cities.
The fourth focus is on improving production efficiency and promoting Thai product exports, including supporting farmers and SMEs to adopt advanced technologies and appropriately adjust planting areas; providing financial support and credit to exporters; and developing digital infrastructure.
The fifth focus is on investing in community economy development and other projects, including supporting grassroots economic development; increasing education investment to cultivate talents.