The government's 20 planned megaprojects with a combined valued of 1.41 trillion baht are set to move forward smoothly after the Yes vote for the new constitution.
Krisada Chinavicharana, director-general of the Fiscal Policy Office, said the referendum result will ensure that the government's investment in big-ticket infrastructure projects is on track.
A steering committee on the country's economic stimulus measures and investment chaired by Finance Minister Apisak Tantivorawong recently said that around 18-19 large-scale infrastructure projects worth a combined 1.4 trillion baht are expected to be signed off on and around 60 billion from the investment budget will be taken out this year.
Prime Minister Prayut Chan-o-cha's administration aims to kickstart the construction of the 20 big-ticket projects this year in a bid to stimulate the economy.
The cabinet has already approved 11 projects worth 460 billion baht that are due for completion by 2022.
Finance Minister Apisak Tantivorawong said contractors should be able to sign deals for 18 or 19 of the projects in the last quarter of this year.
If contracts can be signed and construction begins accordingly, it would result in about 66 billion baht being spent on these projects this year, with the rest spent gradually over the next three years, he said.
The projects include intercity one-metre gauge double-track rail networks, intercity 1.435-metre gauge double-track rail networks motorways, expansion of the Laem Chabang deep-sea port, container terminal development at Laem Chabang, the second phase of the expansion of Suvarnabhumi airport and three mass transit routes in Bangkok: the Pink Line from Kae Rai to Min Buri, the Yellow Line from Lat Phrao to Samrong, and the Orange Line connecting Thailand Cultural Centre with Min Buri.
The government is also committed to accelerating investment in two high-speed rail projects: the 193.5-kilometre Bangkok-Rayong route, worth 153 billion baht, and the 211km Bangkok-Hua Hin route, worth 94.7 billion baht. The two high-speed rail projects will promote connectivity between Thailand and neighbouring Cambodia, Laos, Myanmar and Vietnam.
Meanwhile, Deputy Prime Minister Somkid Jatusripitak said yesterday the smooth passage of the charter referendum would help build up confidence for private investment.
Mr Somkid said private investment will play a vital role in driving the economy in the remaining months of this year as well as next year.
Deputy Commerce Minister Suvit Maesincee also said the government had laid down the foundations to restore the economy.
