Bt2 trillion investment
Kittiratt plans more roadshows
Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong plans more roadshows on the government's Bt2 trillion infrastructure investment, following the successful one in New York and London.
In New York and London, he told foreign investors that the investment is part of the governmentâ€™s economic rebalancing efforts, to reduce dependence on exports. He is also convinced that the borrowing bill to finance the investment should become law soon.
He unveiled that the overwhelming response encouraged him to plan more roadshows to other countries like Hong Kong, Singapore and Tokyo, which will run in tandem with domestic roadshows to some provinces.
"The investors were informed of the source of funding for the infrastructure scheme as well as the water-management scheme. The fund would be principally raised in the domestic market, as Thailand is sitting on foreign reserves as high as US$170 billion. We can raise the entire sum from the domestic market, but we will issue some bonds denominated in foreign currencies to quash concerns that this investment would deplete our reserves," he said.
He said that dollar-denominated bonds could be valued about $75 billion (Bt235 billion). Half of the fund will be used to finance machinery imports.