Long-term stimulus measures to focus on 5G, EEC, export: finance minister

Finance Minister Uttama Savanayana said the government’s state welfare stimulus package will only be a short-term measure, adding that for the long term, his ministry will focus on 5G investment, Eastern Economic Corridor (EEC) projects and improving the export market.
“The Bt316 billion stimulus package for state welfare card holders will temporarily boost domestic consumption and bring the year’s economic growth a bit closer to the 3-per-cent target,” he said.
The minister was speaking at the “Economic Strategy under the New Government” seminar on August 26.
“However, long-term measures will focus on high technology investment such as 5G, infrastructure megaproject in EEC areas and improving the value of export products,” he elaborated.
The minister added that the government is confidents that its projects will attract private investment, both domestic and foreign.
“We are planning to work with giant corporations, SMEs, e-commerce businesses and startups through PPP [public-private partnerships] and specialized promotional packages from the Board of Investment,” he said.
The finance minister is confident that increased investment in high-technology such as 5G, robotics and smart farming, Thai producers will be able to add value to their export products. “Most of our exports are now agricultural products, but we can use technology to optimise production process and improve quality, as well as explore new opportunities in advanced industries such as medical equipment and robotic manufacturing.”