In today’s briefing, Prime Minister Prayut detailed his governance’s continued dedication to the nation’s ongoing projects amidst the formation of a new government. As he noted, his administration has been unceasing in monitoring these initiatives since he assumed office in August 2014.
Prayut was positive in his assessment of Thailand’s economic health, assuring that the nation’s finances remain resilient and secure. Consequently, the authorities anticipate that they can navigate any imminent crisis that may occur within the last two months of fiscal 2023, concluding in September 2023. Threats such as flooding, dry spells, and other natural disasters are within the government’s capacity to manage, thanks to our robust economy.
On a reassuring note, he added that his administration has substantial financial capacity to extend aids and subsidies to various demographic groups.
Moving on to infrastructure development, Prayut alluded to the remarkable strides made. Among these feats is the dual track railway that connects the provinces of Nakhon Pathom and Chumphon, spanning a total of 420 kilometers. He highlighted that construction is currently at a 90% completion rate, and we can expect the railway to be operational by the end of the year.
Additionally, progress is also evident in the development of the fifth Thai-Lao Friendship Bridge, which connects Beung Kan and Bolikhamsai. With an impressive 82% completion rate, the engineering marvel is projected to be officially open next year. This bridge, the Prime Minister said, is set to invigorate cross-border trade and bolster agricultural exports to Laos, Vietnam, and China.
In the realm of finance, Prayut elaborated on the foreign investments of the first half of the year. Foreign entities have poured as much as 10.77 billion baht into the Eastern Economic Corridor, making up 22% of the nation’s entire foreign direct investment portfolio.
In terms of industry-specific advances, he shed light on the exponential growth of the electric vehicle (EV) sector. With a 15% surge in the first semester of 2023 compared to the same period in 2022, and investments reaching 48.9 billion baht, the industry has managed to generate over 3,000 jobs. Perhaps most tellingly, a record 31,738 new EVs were registered between January and June 2023, tripling last year’s figures.
On the aspect of foreign relations, Prayut assured that his government is relentlessly pursuing negotiations with overseas parties to unlock fresh markets and solidify global alliances. He especially noted the promising prospects presented by Malaysia, a potentially lucrative market for Thailand’s halal food sector.
Prayut was effusive in his praise for the collective commitment of the government and collaborating entities in stewarding these success stories and cultivating a harmonious environment. He urged everyone to continue fostering this favorable ambiance that has become integral to Thai society.
In related news, the Ministry of Finance revised down its 2023 gross domestic product (GDP) growth prediction by 0.1 percentage point to 3.5%. According to the ministry’s Fiscal Policy Office, exports are expected to decrease by 0.8 percentage point, and tourism revenue would amount to 1.25 trillion baht, 50 billion baht lower than the prior estimate, derived from 29.5 million foreign visitors.
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