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Thailand is set to fast-track investment projects worth THB 300 billion (USD 9.22 billion) over the next four months as part of efforts to boost the slowing economy. The 70 projects, focused on data centres, electronics, and power generation, will benefit from eased investment rules. The move complements recent government measures such as domestic travel incentives, aiming to raise economic growth above 2.2% this year. The acceleration responds to ongoing challenges including U.S. tariffs, high household debt, and a strong baht affecting overall economic activity.
Thailand's Board of Investment has announced plans to accelerate 70 investment projects totaling THB 300 billion (USD 9.22 billion) over the next four months, aiming to support the country's economic recovery. The board plans to simplify investment procedures and provide additional support to investors, particularly in sectors such as data centres, electronics, and power generation, said Narit Therdsteerasukdi, the agency's secretary-general. Advertisement
The move comes as Thailand faces economic pressures including U.S. tariffs on exports, high household debt levels, and a strong baht, all of which have slowed growth in recent years. Officials emphasized that the accelerated projects are designed to attract both local and foreign investment while improving efficiency in project implementation.
This initiative is part of a broader government strategy to stimulate the economy. Recent measures have included incentives to encourage domestic travel, aiming to boost consumer spending and overall growth. The focus on technology and energy sectors highlights the government's efforts to modernize the economy and create sustainable job opportunities. Analysts note that these industries are likely to contribute significantly to long-term development, strengthen infrastructure, and enhance Thailand's competitiveness in the region.
The Board of Investment also plans to monitor progress closely and resolve potential bottlenecks quickly, ensuring that projects start and complete within the planned timeframe. This approach reflects a proactive effort to maintain investor confidence and maximize the economic impact of large-scale investments.
Source Reuters
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