THAILAND's cabinet approved a plan to set up an infrastructure fund worth THB100 billion (US$2.77 billion), as the military government ramps up investment projects.
The army seized power in May 2014 to end months of political turmoil but has struggled to revive Southeast Asia's second-largest economy as exports and domestic demand remain weak. It has focused on investment projects to aid growth.
The "Thailand Future Fund" is expected to be launched within one or two months, Finance Minister Apisak Tantivorawong told Reuters after the weekly cabinet meeting.
"Thailand plans to invest several big projects, particularly the logistics, and the government budget can only finance a few projects," Mr Apisak told reporters later.
"So the fund is aimed at raising money from the private sector seeking long-term investments as well as general investors," he said.
Initially, the finance ministry will put THB10 billion in the fund before selling its units to Thai and foreign investors and listing them on the Thai bourse by the first quarter of 2016, Mr Apisak said.
WORLD SHIPPING
25 December 2015 - 20:27
Thai cabinet approves US$2.77 billion infrastructure investment fund
THAILAND's cabinet approved a plan to set up an infrastructure fund worth THB100 billion (US$2.77 billion), as the military government ramps up investment projects.
WORLD SHIPPING
25 December 2015 - 20:27
Thai cabinet approves US$2.77 billion infrastructure investment fund
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