Delay in forming new govt will hurt Thailand, business sector warns

BANGKOK (The Nation/Asia News Network): The private sector wants a new government formed as soon as possible to avoid risks to investor confidence from the political vacuum, the Thai Chamber of Commerce said on Monday (March 20).

“We want the new government to continue megaprojects that have been carried out so far, such as the promotion of the BCG [bio, circular, green] economy model, development of the Eastern Economic Corridor, and other key national agenda,” said chamber chairman Sanan Angubolkul.

The government led by Prayut Chan-O-Cha is now in caretaker mode after Parliament was dissolved on Monday to clear the way for an election in May. An election must be held 45 to 60 days after the dissolution.

The Election Commission (EC) will on Friday announce the election date, which is expected to be either May 7 or May 14.

“The private sector hopes that the new government can be formed as soon as possible after the election ends. Any delay would also affect the budget disbursement and the implementation of economic stimulus measures,” said Sanan. We are living in a fast-changing world, so we need to respond swiftly to the changing global situation.”

The Thai Chamber of Commerce will hold a public forum for political parties to present their policies at the University of the Thai Chamber of Commerce in Bangkok on March 30.

Ten parties have been invited to answer questions put by business regarding key economic policies including digital transformation, the minimum wage, and foreign investment.

Isares Rattanadilok na Phuket, vice chairman of the Federation of Thai Industries (FTI), said the general election will boost sentiment in the economy, as everyone will be hopeful of the new government, while people are motivated to discuss their problems to find mutual solutions.

“A top priority for the business sector is boosting GDP and reducing people’s cost of living,” he said. “We also want the new government to help find new export markets to combat declining exports and boost the cost-competitiveness of Thai products in global markets.”

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Thailand , election , business


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