The Thai government plans to allocate $560 million for the development of the Eastern Economic Corridor (EEC) in fiscal 2020, according toKobsak Pootrakool, deputy secretary-general to Prime Minister General Prayut Chan-o-cha.
The Thai government plans to allocate 17 billion baht (560 million USD) for the development of the Eastern Economic Corridor (EEC) in fiscal 2020 (Illustrative photo: ASEAN Briefing)
The official said Thailand wants to speed upinvestment in the region, especially in transport, adding that the government isapplying a holistic approach to budget allocation as it needs efficientcoordination between many state agencies and educational institutions.
Part of the budget would be used forinvestment in the high-speed rail project currently waiting for thepublic-private partnership contract to be signed.
The Highways Department of theTransport Ministry will get the largest share of the budget of 9.9 billion baht,while the National Science and Technology Development Agency will receive 1.3billion baht.
Educational institutions will alsoget funding for human resources development for the EEC where an estimated450,000 highly skilled labour force will be needed over a year.
Kobsak said that the budget allocation would take into account the impact onthe environment and promotion of small businesses in the region.
The Thai Parliament plans to deliberate the budget bill for fiscal 2020 in thecoming time./.VNA