Thai-ASEAN News Network

Govt Ponders Flood Recovery Plan

UPDATE : 30 October 2011

The commerce minister is speeding up mapping out the economic recovery plan after the floods recede.

Deputy PM and Commerce Minister Kittirat Na Ranong reveals that the government has been urgently trying to regain confidence among entrepreneurs.

Kittirat said the country’s economy has been hard hit by the flooding. However, the government will map out the recovery plan after the floods recede.

He added that the Bangkok of Thailand has affirmed the country’s liquidity, but loans from overseas for the manufacturing sector must not exceed 50 billion baht.

The commerce minister went on to say that the government has also planned to borrow 325 billion baht to help the industrial sector recover from the floods. Some commercial banks have shown interests in granting the loans.

Kittirat said the finance minister has been seeking cooperation from Japan’s financial institutions, who are the major investors in Thailand, in granting loans for Thailand