“Thailand Future Fund” to be set up
The Thai government has planned to set up a budgetary base for future infrastructure development in the nation, dubbed the “Thailand Future Fund”, with an approved total of 100 billion THB.
Road construction will be the first priority for the investment by Thailand Future Fund (TFF) (Bangkok Post file photo) The Cabinet acknowledged the nation’s need for infrastructure development as well as the the important economic role state investment plays. State Enterprise Policy Office (SEPO) Director-General Ekniti Nitithanprapas explained that the fund would be of a closed type with no expiration and managed by the Securities and Exchange Commission (SEC) so that it can be accessed via the Stock Exchange of Thailand.
The Ministry of Finance has been entrusted to set up the fund within July by acquiring 10 billion THB and then selling 90 billion THB worth of bonds both domestically and internationally starting from this December.
A committee is to be established to mandate the fund’s regulations such as its investment return maximum and minimum and borrowing limits. Projects that will benefit from the fund include Highway 7 from Bangkok-Baan Chang and the Rama 3- Dao Kanong expressway.
Ekniti pointed out that the fund would help infrastructure investment to continue without becoming a burden on public debt, thus allowing continued national development.-VNA
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