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Thailand Megaprojects Planned to Withstand Global Recession

With soaring prices of oil and food and US economic downturn, Prime Minister Samak Sundaravej will use his government's megaprojects to help Thailand soften the impact of a possible global recession and lead the country's economy to grow at 6.5% this year.

"We will push ahead with mass-transit projects as our priority in reducing logistics costs to facilitate investments. This is what Thailand will do to withstand the global recession," the premier said at a business summit on the Thai-US partnership at Government House. (Report by Bangkok Post)

He said his government would stimulate domestic consumption to cope with the challenges of food and energy problems.

In order to attract more foreign investors, the premier said the government would further ease regulations.

Other plans include strengthening economic ties with China and India and entering the free-trade agreement between Asean and South Korea.

He also urged the US to encourage regional economic integration with Burma. "We will need international support for a practical solution to Burma as trade and economic development is one powerful way to change things for the better."

The minister of Foreign Affairs Noppadon Pattama said logistics, transport, and energy would be strategic areas in which Thailand hopes to take the lead in creating regional linkages in the Greater Mekong Sub-region countries such as Cambodia, Laos, Burma, Vietnam and southern China.

This is seen as an opportunity for the United States to expand its partnership with Thailand across the kingdom's boundaries.