The government will introduce two more stimulus packages at the next economic cabinet meeting, the deputy minister said on Thursday.
Somkid Jatusripitak, Deputy Prime Minister in charge of economic affairs, said the measures will be introduced to the economic cabinet on Friday.
If approved, the packages will enter the main cabinet meeting next Tuesday before they come into effect.
He did not provide details on the packages.
The government is also working to introduce measures to increase purchasing power, stimulate community tourism, provide SMEs more access to liquidity, and extend the debt repayment period which is being considered by the Bank of Thailand.
Thai-US Economic Cooperation
Somkid told reporters after his meeting on Thursday with Michael George DeSombre, US Ambassador to Thailand, that the Thai government wants more economic cooperation with the US, the largest economy in the world.
The Stock Exchange of Thailand can rival that of Singapore. The Thai market is also well-connected with Hong Kong’s Hang Seng and Shenzhen composite index on the mainland, Deputy Somkid said to DeSombre.
US businesses could expand their production base and enter the services sector here, he added.
There is also a lot of potential in the medical field as universities and government agencies are more than ready to develop the sector.
He proposed that Thailand and the US cooperate on a development package for the kingdom’s medical sector.
Somkid said the Thai government does not want simply investment from US medical and healthcare companies but a complete package with US government cooperation.
He said that the US ambassador will return with a proposal shortly.
The Thai government wants more companies from Silicon Valley to invest in Thailand’s Eastern Economic Corridor (EEC) which could help with further developing the technological sector in the country, added Somkid.
DeSombre said that US companies could also invest in Thailand in order to develop a supply chain in Southeast Asia.
[Photo Courtesy of Ministry of Finance]
