Mega projects, tourism to propel Thailand’s growth this year: finance chief

A tourist from China, dressed in a rented traditional Thai costume poses for photographs at the Wat Arun Buddhist temple in Bangkok on February 12, 2023. - AFP

BANGKOK (Bloomberg): A slew of billion-dollar infrastructure projects and an upswing in tourism will fuel Thailand’s expansion this year, shielding the economy from weaker exports and any possible delay in the budget approval due to elections, according to Finance Minister Arkhom Termpittayapaisith.

Government approvals for three projects at a combined investment of about 524 billion baht (US$14.9 billion) will ensure capital spending remains on track, Arkhom said in an interview Monday (Feb 27) in his office, citing a high-speed railway line connecting three airports, an expansion of an airport southeast of Bangkok and a deep seaport. Private sector investment was on the mend too with rising imports of machinery and equipment, he said.