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 Property
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18 Dec 05 23:44
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Mega-projects not to start simultaneously
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TNA
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The Thai government-sponsored mega-projects, including 10 mass transit rail systems covering most of Bangkok and its surrounding areas aimed at easing the traffic problems in the capital, will not be implemented simultaneously as the government will have to also take financial discipline into consideration, Government Spokesman Surapong Suebwonglee said here on Friday.
Dr Surapong said that the mega-projects would be prioritised, as the government would have to certify that total public debts would not exceed 50 per cent of the country's gross domestic product (GDP) and the government's total investment would not be more than 16 per cent of GDP in each fiscal year.
If the value of bidding for the projects to be held in April 2006 finds that the public debt is over 50 per cent of GDP, then the government will opt for the most important projects first, for example transport-related projects, since these would assist in cutting energy use, as well as water resource management and education projects because they affect many people, said Dr Surapong.
He said that the government would initially undertake only three or four of the 13 mega-projects, with the remainder being implemented later when GDP improved and the government could withstand a higher debt ratio.
Stressing that investment in the mega-projects is meant to further develop the country and, therefore, not necessary to complete all of them within three years or before the general election in 2009, Surapong said the government's objective is to develop the country for the long-term.
He denied that the mega-projects were meant for foreign investors only, as some 60 Thai private sector investors, including representatives of the Federation of Thai Industries (FTI) and the Thai Chamber of Commerce, also participated in the meeting in Government House, chaired by Prime Minister Thaksin Shinawatra last Wednesday.
Thai investors are welcome to compete in bidding against foreign investors, particularly in medium-sized projects or those which do not require high technology and if their proposals are almost the same as those of foreign investors, the government can offer the projects to them, said the government spokesman.
Thai investors could also jointly invest, or act as subcontractors for foreign companies, he added.
The government's stance was also confirmed by the prime minister himself at his weekly radio address Saturday morning.
Surapong said a national committee would be established to oversee details of proposals made by bidders.
The committee will be comprised of academics, representatives from independent organisations and members of parliament to ensure that the bidding is transparent.
The names of the committee's members are expected to be disclosed before the third week of January next year, he added.
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