Political uncertainty and floods worry investors

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BANGKOK, 22 October 2013 The Federation of Thai Industries (FTI) has said political uncertainty and current floods are worrying the investors. 

According to FTI Chairman Payungsak Chartsutipol, despite the fact that the current flooding is not as severe as the one in 2011, it still worries investors, as floods have damaged many areas and some factories have been forced to shut down temporarily because the employees can not get to their workplace due to the floods.

Another factor influencing investors’ confidence, according to the chairman, is the political uncertainty. The anti-government demonstration has been going on at the Urupong intersection, while the Internal Security Act (ISA) will remain in force in 3 districts of Bangkok until the end of next month.

The FTI chairman said the business sector is keeping its eyes on the government’s promised mega development projects, adding that if pushed forward, it would help reduce transportation cost and enhance the competitiveness of the country.

Mr. Payungsak expects the Thai economy in the fourth quarter to be in an upward trend, especially the automobile industry, which will have produced a total of 2.5 million vehicles by the end of 2013, he added.