Confidence in Thailand boosted after curfew lifted

Tuesday, 17 June 2014 By  MCOT

BANGKOK, June 16 --  Confidence is growing among the business community and investors after the nationwide curfew was revoked on Friday, according to the Federation of Thai Industries (FTI).

FTI chairman Suphan Mongkolsuthee said lifting the curfew boosted the confidence and also facilitated nighttime businesses in Thailand.

Lifting the curfew also demonstrates that there are no violent situations in the country, which also restores confidence.

Mr Suphan said that Thai and foreign investors who already did business in Thailand were more confident, while investors from abroad were likely to have renewed confidence in Thailand, but they are awaiting economic stimulation and investment-related measures from the National Council for Peace and Order (NCPO).

Mr Suphan said that the FTI wanted the Peace and Order Council to effectively stimulate the national economy, restore confidence, and guarantee transparency and good governance.

He foresees the Thai economy to grow by 2.5-3 per cent this year and urges the quick disbursement of government budgets, while predicting that Thai tourism should pick up in the second half of this year.

Mr Suphan expects the Board of Investment to consider a backlog of investment projects proposed for promotional privileges within 3-4 months. Planned investment in the projects is estimated at about Bt700 billion.

FTI vice chairman Wallop Witanakorn said the NCPO's action to lift the curfew helped restore confidence in the business community and investors, and that investment and tourism would improve.

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