Thailand Future Fund gets B10bn start

Road construction will be a initial priority for a investment by Thailand Future Fund (TFF). (Bangkok Post record photo)

The cupboard on Tuesday authorized earmarking 10 billion baht as seed income for a 100-billion-baht Thailand Future Fund (TFF), that will deposit in 3 highway projects in a initial stage.

Of a 10 billion baht, 1 billion subsequent from Vayupak Fund 1’s dividends will be used to set adult a revolving account to pledge a smallest lapse to TFF section holders, while a remaining 9 billion will be lifted from swapping shares hold by a Vayupak Fund, pronounced Ekniti Nitithanprapas, director-general of a State Enterprise Policy Office (Sepo).

The Vayupak Fund was set adult by a Thaksin supervision to lift supports from a open by investing in 11 stocks. The Finance Ministry is now a fund’s biggest shareholder.

Mr Ekniti pronounced deduction from TFF’s initial open charity will be used to deposit in 3 projects — a Bangkok-Rayong motorway, a outdoor ring highway joining Ayutthaya and Pattaya, and an expressway joining Rama III Road-Dao Kanong-Kanchanaphisek Road (the western outdoor ring road).

The cupboard in Dec authorized a launch of a TFF, an infrastructure account to lift money from a open for a construction of state projects.

Mr Ekniti pronounced financial advisers will establish how most a smallest guaranteed lapse will be.

Sepo, however, primarily estimated that 50% of fee income for a Bangkok-Rayong motorway and Ayutthaya-Pattaya highway would be 40 billion baht over a subsequent 30 years. That would be used for investment earnings and a other half would be set aside for maintenance.

TFF units will be offering usually to word companies, Mr Ekniti said, adding that Sepo needs to cruise measures to strengthen investors if a account is also sole to sell investors.

In a associated development, a cupboard yesterday authorized a special taxation mangle programme to boost people’s spending on One Tambon One Product (Otop) items, pronounced Kobsak Phutrakul, partner apportion to a Prime Minister’s Office.

The programme allows taxpayers to concede adult to 15,000 baht spent on Otop products from Aug 1-31 from their personal income tax.

There are 46,999 Otop entrepreneurs with 80,000 product equipment available. They beget about 100 billion baht in sales income a year.

The programme aims not usually to lift community-based businesses’ income though also to boost pursuit origination in farming areas and inspire Otop producers to register with a Revenue Department.

The supervision estimates a programme will assistance beget about 10 billion baht in spending in August.

Mr Kobsak pronounced a cupboard yesterday also authorized a change to concede foreigners to attend in 17 businesses but capitulation from a Commerce Ministry.

They embody businesses that are associated to blurb banks, item management, deputy offices, informal offices, and services that have contracts with state agencies or state enterprises.

Article source: http://www.bangkokpost.com/business/finance/1034421/thailand-future-fund-gets-b10bn-start

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