State firms to spend 52%more in 2018

Economy November 30, 2017 01:00


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STATE ENTERPRISES will jack up their investments for next year by 52 per cent to Bt796.34 billion.

 The government announcement comes as Deputy Prime Minister Somkid Jatusripitak urged sectors in the economy to boost their investments in order to stimulate the economy.

For the 45 state enterprises that come under the State Enterprise Policy Office’s (Sepo) supervision, their investment budget will increase 47 per cent to Bt506.16 billion next year, Sepo spokesman Chanvit Nakburee said.

State enterprises with large investment budgets include State Railway of Thailand, the Mass Rapid Transit Authority of Thailand, PTT Plc and the Electricity Generating Authority of Thailand.

The increase in state enterprise investment would play a major role in driving the economy, Chanvit said.

Ekniti Nitithanprapas, Sepo director-general, said that next year, state enterprises would be required to improve their plans and estimates for disbursement of the investment budget to better reflect the actual disbursements.

Somkid yesterday chaired a meeting concerned with accelerating the disbursement of the state enterprises’ investment budgets. He asked the enterprises to take into consideration the front-loaded disbursement and the disbursements that did not follow the plans and which would be obliged to come under next year's disbursement.

He urged the enterprises to accelerate the disbursement of their investment budgets to no less than 95 per cent of the total investment budget next year.

Somkid also said the disbursement of the investment budget should be supervised in order to help ensure that the targets were met, according to Ekniti.

The Deputy Prime Minister stressed that state enterprises with large investment budgets should speed up their disbursements as targeted for the remaining one month of this year, he said.

For the first nine months of this year, state-enterprise investment increased 9.2 per cent year-on-year, said Ekniti, who added that this helped to boost the Thai economy at a time when private spending has not fully recovered.