Private sector sees little impact from general election delay

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President of the JSCCIB, Klin Sarasin.
President of the JSCCIB, Klin Sarasin.

Bangkok – Members of the private sector have indicated continued confidence in the Thai economy despite the likelihood that the general election will be delayed, noting strong factors abroad supporting investment in Thailand.

President of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) Klin Sarasin said that changes to the government’s plan for a general election this year were not likely to have any impact on private sector business confidence as the economy is currently on an uptrend due to sizable state investments in the grassroots sector and an inflow of foreign investment from the US, the EU, China and Japan.

The sentiment is shared by Federation of Thai Industries (FTI) Chairman Chen Namchaisiri who remarked that a change to the general election’s date would be understandable due to current legal obstacles. He asked only that any delay be satisfactorily explained while noting that foreign investors have shown little concern for the vote and have instead focused their attention on legislation to do with the Eastern Economic Corridor.

Vice President of the Thai Chamber of Commerce Poj Aramwattananont voiced his belief that the Thai economy will continue its march forward just as it has weathered political situations over the past four years.