6 days ago
Second phase of stimulus plan gets nod
The cabinet has approved the second phase of the government's economic stimulus plan worth 18.4 billion baht, said Finance Minister Pichai Chunhavajira.
This is part of the restructured 157-billion-baht budget originally allocated for the 10,000-baht digital wallet project.
The news was announced by Mr Pichai after the weekly cabinet meeting on Tuesday.
The cabinet previously rolled out 115 billion baht under the first phase of the plan. The remaining funds will now be directed toward boosting Thailand's competitiveness in key industries and investing in human capital to cushion against an expected economic slowdown this year.
Mr Pichai said the second-phase package, reviewed and endorsed by the National Economic Stimulus Policy Committee, is designed to enhance the global competitiveness of Thai enterprises, particularly in targeted industries.
The package also prepares the workforce for future economic instability. The initiative aims to counter potential risks from global developments such as Washington's reciprocal tariff measures and the Global Minimum Tax, while laying a foundation for long-term growth.
Key components of the stimulus package include enhanced competitiveness for target industries worth 10 billion baht and investment in human capital development valued at 8.48 billion baht.
The first portion will be allocated through the Board of Investment's Competitiveness Enhancement Fund for Target Industries, to support Thai businesses in adapting to global market changes.
This will attract and retain major investors and mitigate the impact of protectionist US trade policies, as well as global tax reforms.
In the short term, the programme will focus on digital technology skill development and industrial transformation.
For the human capital portion, the money will be allocated through the Student Loan Fund (SLF). This is intended to expand access to education financing, enabling up to 139,000 students to secure loans.
