Somkid vows 'special privileges' for region

The government is considering additional measures to attract investment to the three southernmost provinces in order to boost people's income, says Deputy Prime Minister Somkid Jatusripitak.

The measures will be enacted through Board of Investment privileges for investors and financial support measures to help farmers have easier access to finance in Yala, Pattani and Narathiwat, Mr Somkid said.

Fifty businessmen from the deep South led by the Thailand Chamber of Commerce and the Federation of Thai Industries (FTI) had a discussion with Mr Somkid at Government House yesterday to update him on the current situation and seek aid measures.

Mr Somkid said the government has considered special measures to help the deep South, which has endured a separatist insurgency over the past decade.

"The BoI has to work out additional special privileges to attract investment to the area," he said.

State banks such as the Islamic Bank of Thailand (IBank), Government Savings Bank and Krungthai Bank will be asked to raise lending for projects throughout the deep South.

IBank must play a bigger role as a financial support for Muslims, who make up most of the population in the southernmost provinces.

Internet connectivity will also need further development in the area. Local businesses are keen to expand through e-commerce, Mr Somkid said, adding that would discuss the matter with related agencies.

Tatiya Chimpalee, president of the FTI in Pattani, has proposed developing a deep-sea port in Pattani to create a service industry hub in the southernmost areas. The project would require an estimated 1.2 billion baht.

The businessmen also want the government to speed up work on the halal industrial estate in Pattani to serve demand from small and medium-sized operators.

"The investment of 20 SMEs in the estate will generate income in the province of 300 million baht with a further 300 jobs created," Mr Tatiya said.

The BoI has offered the greatest privileges to investors in the three southernmost provinces and in five districts of Songkhla: Chana, Thepha, Na Thawi, Saba Yoi and Sadao.

The offer is due to expire by the end of 2017 after it was extended from the previous deadline at the end of 2014.

Source:
courtesy of BANGKOK POST

by Chatrudee Theparat

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