The Thai government plans to allocate 17 billion baht (560 million USD) for the development of the Eastern Economic Corridor (EEC) in fiscal 2020 (Illustrative photo: ASEAN Briefing) Bangkok (VNA) – The Thai government plans to allocate 17 billion baht (560 million USD) for the development of the Eastern Economic Corridor (EEC) in fiscal 2020, according to Kobsak Pootrakool, deputy secretary-general to Prime Minister General Prayut Chan-o-cha.
The official said Thailand wants to speed up investment in the region, especially in transport, adding that the government is applying a holistic approach to budget allocation as it needs efficient coordination between many state agencies and educational institutions.
Part of the budget would be used for investment in the high-speed rail project currently waiting for the public-private partnership contract to be signed.
The Highways Department of the Transport Ministry will get the largest share of the budget of 9.9 billion baht, while the National Science and Technology Development Agency will receive 1.3 billion baht.
Educational institutions will also get funding for human resources development for the EEC where an estimated 450,000 highly skilled labour force will be needed over a year.
Kobsak said that the budget allocation would take into account the impact on the environment and promotion of small businesses in the region.
The Thai Parliament plans to deliberate the budget bill for fiscal 2020 in the coming time./.
The official said Thailand wants to speed up investment in the region, especially in transport, adding that the government is applying a holistic approach to budget allocation as it needs efficient coordination between many state agencies and educational institutions.
Part of the budget would be used for investment in the high-speed rail project currently waiting for the public-private partnership contract to be signed.
The Highways Department of the Transport Ministry will get the largest share of the budget of 9.9 billion baht, while the National Science and Technology Development Agency will receive 1.3 billion baht.
Educational institutions will also get funding for human resources development for the EEC where an estimated 450,000 highly skilled labour force will be needed over a year.
Kobsak said that the budget allocation would take into account the impact on the environment and promotion of small businesses in the region.
The Thai Parliament plans to deliberate the budget bill for fiscal 2020 in the coming time./.
VNA
