The Treasury Department is aiming for a leap in its revenue growth, targeting a 20% increase in 2026, compared to the current average annual revenue growth rate of 3%.
According to Ekniti Nitithanprapas, director-general of the Treasury Department, one approach to increasing the department's revenue is to maximise underused land with high potential, be it state land under the supervision of various government agencies or unused or vacant land directly overseen by the Treasury Department, which altogether amounts to as much as 1 million rai.
The department plans to shift from the traditional concession-based investment model to a revenue-sharing system, allowing the government agencies supervising state land and property to benefit from the development.
This change is intended to incentivise agencies to release underutilised land for development.
"One Bangkok is an example of an investment model using revenue sharing, where land owned by the Crown Property Bureau was developed in partnership with the private sector," said Mr Ekniti.
He added that the department will pilot the development of unused state land into hospitals, also using a revenue-sharing model, in alignment with the country's ageing society.
The Treasury Department oversees 12.6 million rai of state land nationwide. Of this, 2.6 million rai is under military use for national security purposes. The remaining 10 million rai is state land managed by the department, most of which is occupied and used by various government agencies. Only 1 million rai is directly managed by the Treasury Department.
For the 2025 fiscal year, the department has been assigned a revenue target of 11 billion baht, mostly from rental income on state land, with a smaller portion from the production of commemorative coins. This year, the rental income target is 10.6 billion baht, while coin production is expected to generate 400 million baht. In the first half of the 2025 fiscal year alone, rental income has already reached 9.8 billion baht.
Mr Ekniti also discussed land valuation, which is one of the Treasury Department's responsibilities, saying that at present, the department's assessed land values still differ significantly from market prices -- in some areas, the department's valuation is 30-40% lower than market prices. However, by law the department's land valuation must not differ from market prices by more than 15%. Therefore, the department is attempting to narrow this gap by integrating land valuation data from commercial banks into its system in the future.
Furthermore, he said that to increase revenue from the sale of collectible coins, the department plans to establish a secondary market for collectible coin trading. Globally, the collectible coin market is valued at US$20 billion (around 700 billion baht). To build this market domestically, the department aims to meet global standards, such as implementing grading systems, coin authentication, and QR code tagging.