SAHA SETS BT3-BN INVESTMENT BUDGET
Saha Group will allocate part of a Bt3-billion in investment budget for the construction of an airbag-fabrics factory in Thailand in partnership with its Japanese partner Toyobo, as well as investing in a new warehouse, Saha chairman Boonsithi Chokwatana said.
Saha said the new investment was in line with the group’s confidence that the Thai economy would rebound in the second half of this year, driven by the government’s economic stimulus measures and allocation of public investments.
Boonsithi said Saha Group had delayed its investments for two years but would renew its business expansion this year.
Of the group’s Bt3-billion investment budget this year, about Bt1 billion will be injected into the construction of an airbag-fabrics factory in partnership with Toyobo.
About Bt1.5 billion will be to open a 70,000-square-metre warehouse on a 50-rai (8-hectare) plot in the Bang Na area of Bangkok.
The new warehouse will facilitate the group’s product expansion in the future.
NLA TO STUDY DRAFT BUDGET BILL FOR FY 2018
The National Legislative Assembly will tomorrow discuss a draft of the fiscal 2018 national budget bill totalling Bt2.9 trillion, with the Ministry of Education planned to receive the highest allocation.
The next fiscal year begins in October.
The proposed budget would account for 18 per cent of gross domestic product. Net revenue is projected at Bt2.4 trillion or 15.2 per cent of GDP in the 2018 fiscal year. Borrowing to offset the budget deficit is planned at Bt450 billion.
In fiscal 2018, the Education Ministry is proposed to receive the highest allocation of Bt510.96 billion, followed by Interior at Bt355.99 billion, Finance at Bt238.36 billion, Defence at Bt222.44 billion and Transport at Bt172.88 billion.
Of the six budget-allocation strategies for the next fiscal year, the strategy for the government efficiency will have the highest allocation of Bt784.21 billion to fight against corruption, promote decentralisation to local administrative organisations, and tax restructuring and collection.
The human-resources development strategy will receive the second-largest budget of Bt575.71 billion for upgrades of education as well as development of public health, religions, arts and culture.
The national competitiveness enhancement strategy will get Bt476.60 billion for developments of industries, small and medium-sized enterprises, special economic zones, the Eastern Economic Corridor and the logistics system.
The strategy for the poor and organic growth will see an allotment of Bt332.58 billion for grass-roots economic development, health insurance, tackling an ageing society and quality-of-life upgrades.
The national stability strategy will see a budget of Bt273.95 billion, which will include reconciliation and solutions to problems in the southernmost provinces.
