Thai government restoring confidence among industrialists

BANGKOK, June 14 (TNA) - The Thai government says it is confident to be able to prevent any repeated flooding crisis this year and it is speeding up the construction of dykes to protect important economic zones in the central Ayutthayaprovince. Thai Deputy Prime Minister and Finance Minister Kittiratm Na Ranong told a seminar on post-flood investment in Ayutthaya Thursday that after massive floods late last year had damaged businesses in Ayutthaya and adjacent Pathum Thani provinces, the government was spending 350 billion baht on flood prevention projects to protect local economic zones. Besides, the Thai government is coordinating with the Revenue Department to reduce taxation for business operators who received flood compensation. According to the deputy premier, the Cabinet has already allocated a budget for the construction of flood prevention dykes at six major Thai industrial estates with budget disbursements expected to start over the next few weeks. Regarding heavy downpours in the Thai North and the upper part of the Central Plain recently, the deputy premier insisted, with flood prevention projects and water management plans, the government could cope with flooding this year. Meanwhile, Secretary-General of the Board of Investment of Thailand (BOI) Atchaka Sibunruang Brimble acknowledged that 817 investment projects in Ayutthaya and Pathum Thani have sought for promotional privileges over the past five months with their combined capital of 370 billion baht, 426 of which have been approved for their imports of substitute machinery to replace flood-damaged ones totally worth some 97.18 billion baht. Atchaka revealed that there have also been as many as 78 new investment projects in previously flooded areas worth some 41.49 billion baht, clearly reflecting recovery in the Thai industrial sector. (TNA)