PM Prayut appoints panel to speed up trade, investment

[webfact]

PM appoints panel to speed up trade, investment

By THE NATION

 

PM Prayut Chan-o-cha

 

Prime Minister Prayut Chan-o-cha has appointed a committee to accelerate trade and investment.

 

Finance Minister Uttama Savanayana said on Tuesday (January 21) that a cabinet meeting in Narathiwat province acknowledged the PM's order to appoint the committee.

 

The Cabinet also gave the green light to a Bank for Agriculture and Agricultural Cooperatives (BAAC) recapitalisation of Bt20 billion over five years. 

 

Government spokeswoman Narumon Pinyosinwat said the PM-appointed committee would accelerate public sector investment this year and the next.

 

The committee will be chaired by Deputy PM Somkid Jatusripitak. The finance minister is to be vice chairman.

 

The committee members will comprise economic ministers, including ministers of Finance, Commerce, Energy, Industry, and Digital Economy and Society, as well as deputy secretary-general to the prime minister for political affairs Kobsak Pootrakool, the permanent secretaries of the Foreign and Commerce ministries, and the Board of Investment secretary-general.

 

Also among the committee are the Budget Bureau director, the National Economic and Social Development Council secretary-general and deputy secretary-general, the State Enterprise Policy Office director, the Trade Negotiations Department director-general, and the Eastern Economic Corridor Policy Committee secretary-general. 

 

The committee is tasked with accelerating state enterprise investment this year and in 2021 to meet schedules. 

 

It will determine the guidelines for international trade negotiations and investment promotion and joint investment, and is to draw up monetary and fiscal policies and related urgent action plans and propose them to the cabinet.

 

The committee, which will also invite companies to jointly invest with the state sector in mega projects, will report progress and obstacles of its tasks to the premier on a regular basis.

 

The BAAC’s recapitalisation of Bt20 billion will raise the bank’s capital to Bt80 billion. 

 

Somkid recently said the higher capital will enable the BAAC to become a key mechanism of the government in bringing sustainable development to rural areas. 

 

The financial injection will come from the Specialised Financial Institutions Development Fund.

 

The Cabinet also approved in principle an urgent investment plan of Bt18.68 billion in the special economic zone in Songkhla’s Chana district.

 

Source: https://www.nationthailand.com/business/30380884?utm_source=homepage&utm_medium=internal_referral

 

-- © Copyright The Nation Thailand 2020-01-22

Follow Thaivisa on LINE for breaking Thailand news and visa info

[smedly]

buy more subs

[colinneil]

Maybe someone can explain, how setting up a panel of cronies whos only interest is topping up their own bank accounts is going to speed up trade/ investment.

[yellowboat]

Wonder how many committees, sub committees, panels, sub panels, working groups and knitting circles there are in this government?   Is that published somewhere?   It seems to be a fetish of cha cha's.  Wish he would find a different fetish. 

Edited January 22, 2020 by yellowboat

[neeray]

And who will chair this committee? ????

[BobbyL]

He loves setting up panels or urging all relevant agencies to work together. I don't think he has any idea about what he is talking about in regards to a nation's trade and investment practice. 

[smutcakes]

So all of the people whose job it is, namely the finance minister and his sub ordinates are going to suddenly form a new committee with the same people on it to do something which they are failing to do in their current position.... I do not understand...

[Creasy]

Who is in this esteemed panel ?

 

His brother ? Wife ? Sister in law ?  His dog ?

 

Oink.

[RichardColeman]

"Did someone say another committee ? "

[alant]

New trade Idea;

Thailand the hub of smoked product?

[unamazedloso]

Another day and somehow he still has is job. Can this douche be impeached for what he said yesterday? Givin the government seems to be setup only in a way that benefits him hes almost impossible to get rid of. Can we get a panel on this?

 

[zydeco]

Almost as many panels as hubs these days.

[realenglish1]

Why don't you set up a panel to see how pollution can be improved. I just had a friend who said he was going to come to Bangkok I told him not to bother because the pollution is bad Maybe he will come someone next year and maybe not

Bottom line is this pollution is hurting tourism and people breathing Without clean air productivity drops

[mikebell]

On 1/22/2020 at 3:21 AM, webfact said:

The committee, which will also invite companies to join

them in the many free lunches whilst they feel important and achieve nothing.

[Denim]

On 1/22/2020 at 7:05 AM, colinneil said:

Maybe someone can explain, how setting up a panel of cronies whos only interest is topping up their own bank accounts is going to speed up trade/ investment.

 

Good point. He will need to start another committee to answer it though.

Not a problem when you have thousands of generals to generate extra income for.

[Srikcir]

On 1/22/2020 at 3:21 AM, webfact said:

The Cabinet also gave the green light to a Bank for Agriculture and Agricultural Cooperatives (BAAC) recapitalisation of Bt20 billion over five years. 

As BAAC is a state-owned institution, the backing for recapitalization comes from the Thai treasury, aka the Thai taxpayer.

[Srikcir]

On 1/22/2020 at 7:13 AM, neeray said:

And who will chair this committee? ????

?

On 1/22/2020 at 3:21 AM, webfact said:

The committee will be chaired by Deputy PM Somkid Jatusripitak. The finance minister is to be vice chairman.