The private sector is closely monitoring the forming of a new government and the selection of a new prime minister. The Federation of Thai Industries (FTI) says it remains positive a new government will eventually be formed within a set timeframe but points out that any delay could impact confidence.
FTI Chairman Kriengkrai Thiennukul said all sectors are now waiting to see economic measures from the new government amid global uncertainties. The forming of a new administration should not be delayed because it could lower confidence among investors and business persons.
He warned that the relocation of manufacturers from Thailand to another country, should it happen, will be costly and difficult to reverse. Mr. Kriengkrai urged supporters of each political party to focus on the common goal and the country’s best interest, adding he does not want to see any unrest and violence.
He noted violence would greatly impact tourism, which has been positioned as the key economic driver that is complementing the underperforming export industry. Thailand this year is expected to welcome 28-30 million international visitors. This current level of tourism is expected to drive up employment across many sectors. (NNT)
