Three electric train projects worth a total of over 200 billion baht will be auctioned next month, says Deputy Prime Minister Somkid Jatusripitak.
The three are the Orange Line connecting Thailand Cultural Centre with Min Buri, worth 110 billion baht; the Pink Line from Khae Rai to Min Buri, worth 56.6 billion baht; and the Yellow Line from Lat Phrao to Samrong, worth 54.6 billion baht.
The three electric train lines and the Blue Line project, which is under construction, should alter Bangkok's transport system, he said after a meeting with high-ranking Finance Ministry officials yesterday.
Somkid: Domestic gains offset exports
The government is pushing investment in big-ticket infrastructure projects to drive economic momentum amid faltering exports, trying to jump-start private investment in order to unlock GDP growth.
Mr Somkid also instructed Airports of Thailand to map out its plans to expand the domestic airports as tourism growth has pushed some past capacity.
In a related development, a public-private partnership (PPP) project to invest in an interprovincial motorway has been delayed a month, but other PPP schemes remain on track, he said. Mr Somkid told related state agencies the motorway project must not be delayed by longer than one month.
He said some private companies have investment plans ready but are reluctant to start because of the political and economic situations. Japanese investors continue to pour money into Thailand as they consider it the gateway to Asean, said Mr Somkid.
Domestic growth will offset weak exports hamstrung by global economic uncertainties, he said.
"Economists have a duty to make predictions, while I take responsibility for making the country's economy hit its target," said Mr Somkid.
The Fiscal Policy Office forecast the country's GDP growth will come in at 3.3% this year, while Moody's Investors Service is more pessimistic, projecting 2.8 % growth.
Meanwhile, Finance Minister Apisak Tantivorawong said value-added tax (VAT) collection for the first 10 days of May surged 40% over the same period last year.
The higher VAT collection could be attributed to the single financial account scheme as it encourages operators to file more accurate VAT returns, he said. VAT collection in April also jumped 10% year-on-year.