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addition to general funding from banks or financial institutions, and it may foster the transfer of
knowledge such as knowledge of technology and management from private sectors to public

sectors

Example

Toronto, ON, Canada: The project is a partnership among government
organizations--Ontario Rio in Canada and a joint venture of Spain and Canada to
build Highway 407, 108 kilometers long within a period of 99 years. Mainly the

purpose is to meet the expansion of city and the growth of population in the City of
Toronto and the cities around them (Greater Toronto Area) as well as to stimulate
the development of the local economy in a recession. The traffic congestion

previously caused the economic loss about 2 billion Canadian dollars a year.

The Findings of the Study: A Survey and Introduction of the Local Economic
Development by the Local Governments in Thailand

From the survey of local economic development in Thailand, the 753 local governments
from 273 local governments (or 36.3 %) conduct economic development in the area 269

local governments (or 35.7 %) were not carried out in the economic development. The
activities or projects are on a variety of forms such as building infrastructures for water and
electricity, building roads or bridges as well as developing deserted lands and city planning.

Strategies for Thai local governments in the implementation of local economic
development are suggested as follows.

1) Strategy of Financial Incentives

= Financial Incentives is a strategy that local governments use the least because
Thai local governments are limited in the use of local tax authority which is

based on the decision of central government agencies such as the Office of the
Board of Investment and the Office of Small and Medium-sized Enterprises.
< Thailand Board of Investment (BOI) has the authority to temporarily

reduce or waive the imposition of certain tax as well as to implement
other benefits for business enterprises. The criteria used in determining
the rights and interests (Last updated in January 1015) are divided into

two types: Activity-based incentives and Merit-based incentives.
< Small & Medium-sized enterprises (SMEs) have the authority and duty
to promote small and medium size enterprises in all regions of the