The cabinet yesterday approved an investment budget worth a combined 1.975 trillion baht for 55 state enterprises in fiscal 2018, marking a significant increase from 580 billion in fiscal 2017.
The investment in fiscal 2018, which starts next month, goes largely to infrastructure and logistics projects, accounting for 796 billion baht of the total investment.
Key projects include the expansion of a natural gas pipeline, worth 28.8 billion baht; expansion of Suvarnabhumi airport, worth 18.1 billion; the Orange Line (eastern section) connecting Thailand Cultural Centre with Min Buri, worth 19.1 billion; and the Red Line (Bang Sue-Rangsit), worth 17.8 billion.
Kobsak Phutrakul, assistant minister to the Prime Minister's Office, said the cabinet is also requiring state enterprises to disburse at least 95% of total investment budget or 846 billion baht.
He said state enterprise investment should also conform with the country's 12th National Social and Economic Development Plan, which includes developing human resources, reducing income disparity, strengthening the economy and competitiveness, promoting eco-friendly industries, ensuring national security, supporting science and technology and developing infrastructure and logistics.
Mr Kobsak said the cabinet yesterday also gave permission for the state planning unit, the National Economic and Social Development Board (NESDB), to adjust the investment budget of state enterprises in the future and strictly require state enterprises to report the progress of their investments to the NESDB on every fifth of the month.
The cabinet acknowledged a framework of annual investment for state enterprises during 2019-21 averaging 679.1 billion baht a year or a total of 2.09 trillion baht for the period.
Mr Kobsak said the cabinet ordered the State Railway of Thailand to speed up establishment of the Rail Department for better management of rail, while pledging investment in the rail system of 400 billion baht over the next two years.
In related news, Nathporn Chatusripitak, an adviser to Prime Minister's Office Minister Suvit Maesincee, said the cabinet also yesterday approved an Agriculture Ministry proposal to establish a 3.5-billion-baht fund to promote and develop community-based enterprises.
The new funding aims at helping community businesses upgrade their competitiveness. The Community Enterprise Promotion and Development Fund will run for three years from fiscal 2017 to 2021, with 300 million baht slated for fiscal 2018, 1.2 billion for fiscal 2019 and 2 billion for fiscal 2020.
Mr Nathporn said the cabinet also approved the Community Business Fair 2018 under the concept of "smart products by community businesses" in order to promote community goods and give them an additional distribution channel.
The fair is expected to be held for five days in Bangkok and surrounding provinces, with precise dates to be announced later.
Mr Nathporn said the cabinet also approved a budget worth 1.4 billion baht proposed by the Agriculture Ministry to encourage farmers to grow corn.