Thailand
Thailand: Ministry set to propose three Northeast projects
The Industry Ministry will propose three projects in the biochemical, auto parts and accessories, and distribution centre segments for Northeast provinces at tomorrow’s mobile cabinet meeting.
The cabinet meeting, which starts today, will visit four provinces: Buri Ram, Surin, Chaiyaphum and Nakhon Ratchasima.
The ministry plans to meet with high-ranking representatives from the Chamber of Commerce, the Federation of Thai Industries and small and medium-sized enterprises (SMEs) to work together in terms of upgrading local business sectors.
The ministry also wants to meet SET-listed sugar miller Buriram Sugar Plc, which plans to invest in a sugar-cane biotechnology project in Buri Ram.
“During this provincial visit, the ministry aims to help local sugar-cane farmers make more value-added products, increasing household incomes from these ventures,” said Industry Minister Uttama Savanayana. “The biotech project is one of 10 S-curve industries on which the government is very keen.”
Buriram Sugar announced last year an investment budget of 1 billion baht to expand its midstream and downstream production. Some 300 million baht has been set aside for the production of biodegradable packages and ethanol. The company wants to make use of molasses and bagasse, byproducts from sugar crushing.
Mr Uttama said the ministry will discuss with local companies upgrades to the automotive industry, mainly in Buri Ram, where the country’s international circuit is situated. The circuit is preparing to host the country’s first-ever MotoGP Grand Prix in October, an event expected to draw more than 200,000 visitors from around the world.
The ministry aims to encourage local auto suppliers, SMEs in particular, to capitalise on demand for spare parts and tuning accessories from Buri Ram.
“We plan to seek approval from the cabinet meeting to construct a new proving ground in Buri Ram, supporting both race cars and sport motorcycles,” Mr Uttama said.
In Nakhon Ratchasima, the ministry plans to construct the country’s largest distribution centre to serve upcycle demand for logistics and transport in the Northeast.
Mr Uttama said Nakhon Ratchasima, the country’s largest province by area, is a gateway to other provinces and a point of connection with neighbouring countries.
“The distribution centre by the government will create more jobs, increase local incomes and generate money circulation in the local economy in the long run,” he said. “It is expected to support economic flows [in Asean].”
The ministry plans to promote its 22-billion-baht Creative Industry Village scheme in these four provinces to help villages, SMEs and farmers increase their income under the Pracha Rat (People’s State) initiative.
The ministry further wants to connect the local tourism sector and community enterprises.
Source: https://www.bangkokpost.com/business/news/1459785/ministry-set-to-propose-three-northeast-projects