Up to Bt66 billion of the total will be spent by the government on infrastructure projects, and it will sign contracts for 18-19 projects worth a total of Bt1.4 trillion. The remaining Bt400 billion will be invested by private companies that will receive tax privileges from the Board of Investment.

Apisak noted that the Bt400-billion private-sector estimate was based only on those companies receiving BOI incentives, and the committee believes other firms that did not apply for incentives will also invest during the remaining months. Private-sector investment in the second half is expected to be in such high-potential industries as food, biotechnology, software, auto accessories and electronics.

Meanwhile, the 18-19 government infrastructure projects that will kick off this year include the railway and motorway systems. Contracts will be signed early in the fourth quarter, with construction getting under way before year-end. Only one of the projects in the master plan, a Thai-Japanese rail project, will be delayed, with contract signing to begin next year, the finance minister said.

“Aggressive investment in the last quarter will boost the country’s economic growth to 3.2 per cent for this year, although the country could face unpredictable situations from global economic risks,” he said.