KBank Subsidiaries and ASEAN Economic Strategy
K
KASIKORNTHAI
Government Policy: Long-term and Short-term Policies
Long-term Policies
■Transport Infrastructure Development Plan:
➤ Project will reduce logistical costs, increase transportation speed of goods and
people, as well as connect Thailand to neighbors along the East-West and
North-South Economic Corridors
➤ Transport Action Plan Year 2016, worth Bt1.796trn, approved by Cabinet in
November 2015; Transport Action Plan Year 2017, worth Bt1.318trn, approved
by Cabinet in December 2016
■Digital Economy:
➤ NBTC plans to award mobile licenses in various spectrums and launch 5G in
near future
Government plans to adapt National Digital ID to speed up the process towards
digital economy
■ BOI Measures for Supporting Private Investment: Cabinet approved tax and
non-tax incentive measures to support private investment, such as Special
Economic Zones (SEZS) and ten targeted industries as new engines of growth
■ Eastern Economic Corridor (EEC): Area for facilitating and attracting investment
in 10 innovative target industries to transform Thailand into Thailand 4.0
■ Promote Establishment of International Headquarters (IHQ) and an
International Trading Center (ITC) in Thailand: Help Thailand become a key
trading nation in the region
■ Join the Regional Comprehensive Economic Partnership (RCEP): Deepen
economic cooperation among sixteen countries and promote export sector
■ Energy Policy: Reform petroleum concessions and energy price structures,
including an LPG subsidy
■Tax Reform: Reform tax collection, generate sufficient revenue for the
government, and boost competitiveness for local businesses, especially SMEs
Note: NBTC National Broadcasting and Telecommunications Commission;
SOE = State Owned Enterprise; GSB = Gvernment Saving Bank
SSF Super Saving Fund
Sources: Newspaper and KResearch (as of January 2020)
■Government Budget:
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Short-term Policies
➤ Fiscal budget deficit in FY2020: plans for Bt469bn deficit to provide additional
supports to Thai economy amid global uncertainties
■ Short-term Stimuli:
➤ Mid-2019 stimulus plan (Bt21.8bn): Give Bt13.2bn directly to people with disabilities,
farmers, and other holders of welfare cards to help people with low incomes; tax
measures worth Bt8.6bn, supporting property markets, tourism, education, etc
➤ Thailand Plus Package: attract foreign investment, especially to expedite
investments from companies seeking to relocate as a result of ongoing trade war
➤ Cash handout for workers not covered by the SSF: 3-month Bt5,000 monthly
payments to informal workers affected by COVID-19
➤ Measures to help farmers: 2019/2020 rice and palm oil price insurance scheme,
drought-afflicted relief program, and easing production costs; 3-month Bt5,000
monthly payments to farmers (May-July 2020)
➤ Supporting tourism: Subsidies for domestic tourists (Moral Support & We Travel
Together campaigns)
➤ Property stimulus package: Offer Bt50,000 cash-back per buyer on down payment;
reduce property transfer and mortgage fees
➤ 2020 SMEs aid program: Offer credit guarantee facility, liquidity aids, soft loans, and
assistance in debt restructuring processes for SMES
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KASIKORNTHAI
Transport Infrastructure Development Plan
■The Transport Infrastructure Development Plan is aimed at facilitating social stability and economic growth
Transport Action Plan Year 2016, worth Bt1.796trn*, approved by the Cabinet in 2015
➤ Transport Action Plan Year 2017, worth Bt1.318trn, approved by the Cabinet in 2016
Transport
Action Plan
Year 2016
(Bt1.796trn)
Transport
Action Plan
Year 2017
(Bt1.318trn)
Source of Fund
Type of Projects
Project Details
Motorway Fund, Regular Investment
0.8%
Budget, 4.7%
SOE, 3.1%
PPP, 21.0%
Dual-Track Trains, 6.6%
Marine Transport, 0.3%
Air Transport, 2.7%
Motorway, 8.9%
1. Bangkok and Vicinity Mass-Transit System (Bt368bn) 4. Rail Transportation Cooperation (Bt1,096bn)
Transportation
Cooperation Plan
61%
Government
Borrowing, 70.5%
Bangkok and Vicinity
Mass-Transit System
20.5%
2 Motorway (Bt160bn)
5. Air Transport (Bt49bn)
Source of Fund
Type of Projects
Others
1.9%
Bangkok and
Vicinity mass
3. Dual-Track Trains (Bt118bn)
6. Marine Transport (Bt5bn)
Project Details
Government
Marine Transport Transit system 1. Bangkok and Vicinity Mass-Transit System (Bt248bn)
12.8%
PPP 54.1%
Borrowing
33.9%
Air Transport
22.8%
Regular Investment
Budget 5.6%
SOE's Revenue
3.0%
TFFIF,3.4%
Dual-Track
Trains
31%
18.8%
Motorway &
Expressway
12.7%
2 Motorway & Expressway (Bt167bn)
3. Dual-Track Trains (Bt409bn)
4. Air Transport (Bt301bn)
5. Marine Transport (Bt168bn)
7. Others (Bt25bn)
* Total investment may be reduced due to cutting the scope of work, especially the Rail Transportation Cooperation projects
Notes: PPP = Public-Private Partnership; SOE = State of Enterprise; MRTA = Mass Rapid Transit Authority of Thailand; SRT State Railway of Thailand; TFFIF = Thailand Future Fund
First round of Thailand Future Fund IPO (amount Bt45bn) to invest in the right to 45% of toll revenue of the Expressway Authority of Thailand on the Chalong Rat (Ram Intra - At Narong) Expressway and the Burapha Withi (Bang Na) Expressway
Source: Office of Transport and Traffic Policy and Planning, Newspaper, KResearch (as of October, 2019)
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