Photo Credit: Bangkok Post
Several state-owned enterprises (SOEs) are expected to raise a combined 40 billion baht through infrastructure funds, easing pressure on government finances as these liabilities are not counted as public debt, according to the State Enterprise Policy Office (Sepo).
The initiative aligns with the finance minister’s policy to encourage SOEs to fund investments via capital markets instead of relying on the state budget. Around nine SOEs are targeted to launch such funds, supported by strong interest following discussions with 15 major enterprises.
Sepo also proposes allocating 10–20% of fund units to employees and cooperatives to promote ownership, with expected returns of about 5%, making them attractive to investors.
While funding costs may rise compared with traditional borrowing, the approach offers immediate capital and greater financial flexibility. Projects must have stable, predictable cash flows to build investor confidence and manage risk effectively.
The move is expected to strengthen fiscal stability and boost capital market activity, building on existing funds such as EGATIF and the Thailand Future Fund.