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Thai Treasury Eyes Joint Ventures in Plans to Boost State Assets.
Byline: Wichit Sirithaveeporn
Jul. 28--The Treasury Department says it hopes to boost the value of state assets, now valued at around 1.6 trillion baht, by another 65 billion baht under a new five-year development plan.
As part of the plan, rental revenue, currently a relatively low 1.5-1.6 billion baht a year, is to be increased by 20 billion baht annually.
Visut Montriwat, director-general of the Treasury Department, said the government aimed to maximise benefits from state holdings.
The department oversees state assets, including land and property totalling more than 12 million rai nationwide.
Mr Visut said the department wanted to form more joint ventures with the private sector to increase the value of state properties.
On Monday, lease rights to 20 plots nationwide will be auctioned to private developers, a first for the department. The land includes properties in Phuket, Bangkok and Surat Thani, and were selected from 80 locations identified as having strong commercial prospects.
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