Bangkok: Ekniti is pushing forward with economic recovery efforts in the five southern border provinces, ordering the implementation of six urgent measures. These include low-interest loans for the first six months, with the government subsidizing half of the interest in subsequent phases, to help revive businesses and sustainably improve the quality of life.
According to Thai News Agency, Deputy Prime Minister and Minister of Finance, Ekniti Nitithanprapha, stated that following a recent economic workshop with representatives from the central government, the private sector, and civil society, challenges and needs on the ground were identified. He emphasized the importance of prioritizing the needs of the people in the five southern border provinces to implement practical solutions. These solutions must address six key areas: increasing income, distributing opportunities, and improving quality of life to align with local needs. All six proposals are immediately actionable and can be implemented quickly.
The first aspect is low-interest loans to enhance liquidity (Soft Loans). After listening to the problems from people in the affected areas, it was observed that loans for entrepreneurs during the flood recovery period would be interest-free for six months. Since recovery takes a long time, the Ministry of Finance immediately considered the Prime Minister's instructions and decided that in addition to the six-month interest-free period, there would be continuous low-interest loans starting from the initial recovery phase when they have no income, also interest-free. After that, the government would subsidize half of the interest payments. This is considered part of the flood recovery plan.
For general entrepreneurs, the aim is to support the economy by encouraging long-term investment. The Government Savings Bank will provide long-term loans to entrepreneurs for five years at a low, fixed interest rate of 1.5 percent per year throughout the project duration. This is intended to help the economy recover and is a solution that addresses the needs immediately after listening to feedback from local communities. This matter will be submitted to the Cabinet meeting for further consideration.
There is still a need from the local community, and further investment is required. This involves dredging the waterways of Songkhla and Pattani ports to increase depth by 9 to 10 meters in order to accommodate larger cargo and improve drainage to help mitigate flooding. This is considered an urgent matter that can be implemented immediately.
There are still obstacles hindering cross-border trade, which the Prime Minister has considered and decided to abolish. This includes eliminating overtime fees for tourists and adjusting immigration procedures, including online systems, to integrate with the customs system for greater convenience. Furthermore, the Ministry of Interior will expedite urban planning adjustments to align with investment and ensure sustainable development for local communities.
The Ministry of Tourism and Sports will create tourism packages promoting local cuisine in five provinces, aiming to foster tourism that promotes local culture and community identity.
The Board of Investment (BOI) has extended its investment promotion program for another three years to support investment and economic development in the southern border provinces. The BOI will collaborate with educational institutions to promote modern investment, believing that Songkhla will become a central hub connecting the region, for example, to Penang. This will bring in modern investment, contributing to long-term economic development and improvement.