Thailand’s National Council for Peace and Order (NCPO) has drawn up a list of emergency measures to kick-start the kingdom’s economy.
The plans, outlined by Air Chief Marshal Prajin Juntong after a meeting with officials at economic ministries, include working with the Government Housing Bank (GHB) to offer low-cost home loans.
Long-term measures include the development of special economic zones on the borders with Myanmar, Laos and Malaysia.
Thailand’s economy has been threatened by recession following months of political turmoil.
The Air Chief Marshal, who has been tasked with overseeing economic matters for the NCPO, said 30 urgent proposals aimed at reviving the ailing economy would be discussed with coup leader General Prayuth Chan-ocha this week.
According to him, he has told the Finance Ministry to look at a complete overhaul of the nation’s tax structure and report to him once it is finished.
He has also reportedly assigned agencies within the Ministry of Transport to push ahead with infrastructure construction of important projects, including the expansion of Suvarnabhumi and Don Muang airports, and investments in various rail transport networks that included dual-track trains, intra-city electric trains, and high-speed trains.
The military took power on May 22 after months of protests that had forced government ministries to close, hurting business confidence and causing the economy to shrink.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg