Thai private sector braced for impact amid political unrest and government delays

[webfact]

 

Protests and potential political instability are causing growing unease within Thailand‘s private sector, chiefly due to the impact of delays in forming the country’s new government. The possible effects are multifaceted, potentially touching areas such as new investments and the tourism industry.

 

The Thai Chamber of Commerce’s vice-chairman, Poj Aramwattananont, expressed concern yesterday in light of recent moves by the local Election Commission (EC). The EC recommended prime ministerial candidate Pita Limjaroenrat’s disqualification from his parliamentary duties due to violations of electoral rules. Yet, constitutionally-compliant action is something the private sector can readily accept, according to Aramwattananont.

 

He noted forthcoming investments could be influenced negatively by the delayed government formation. An extended delay could significantly dent investor confidence, as policies set by a new government and its cabinet are often key determinants for future investment decisions.

Furthermore, the vice-chairman emphasised the obligation of the government to uphold peace and order, especially during political protests.

“The caretaker government should continue its work,” he said, maintaining that the private sector and civil servants should carry on their duties without interruptions.

 

by Alex Morgan 

Picture courtesy of Clint Oka, Unsplash

 

Full story: https://thethaiger.com/news/business/thai-private-sector-braced-for-impact-amid-political-unrest-and-government-delays

 

-- © Copyright Thaiger 2023-07-13

 

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[sammieuk1]

Bad news good news up will go the Baht to brace someone for sure ????

[herfiehandbag]

4 minutes ago, webfact said:

The caretaker government should continue its work,” he said, maintaining that the private sector and civil servants should carry on their duties without interruptions.

Oh it will, don't worry. Fresh elections will be needed of course, when the time is right, at the appropriate juncture, when the necessary groundwork has been done. Never let it be said that democracy will be ignored, just that certain, adjustment (?), need to be made, for the good of the nation.

[DjSilver]

We need Thai baht to lose value and do it fast. Thailand meeds to stop buying their own currency with gold. That's the only thing keeping it up.

[Ironmike]

Here's a simple solution why not give the people what they legally voted for and get rid of all these stupid old men just bankrolling their own bank accounts, before something bad happens

[hotchilli]

2 hours ago, webfact said:

The EC recommended prime ministerial candidate Pita Limjaroenrat’s disqualification from his parliamentary duties due to violations of electoral rules.

A travesty of duty.

[hotchilli]

1 minute ago, Ironmike said:

before something bad happens

It just went south.. the fix is in.

[Bim Smith]

The dinasours would rather see the country burn to ashes than concede control. Like all dictatorships.

[Ginner]

27 minutes ago, DjSilver said:

We need Thai baht to lose value and do it fast. Thailand meeds to stop buying their own currency with gold. That's the only thing keeping it up.

The pound has gained 6 points against the Baht.... 39 to the £ at the end of June. Now 45 to the £ as of this morning.

[Purdey]

Peta has been very disappointing. Couldn't plan his way out of a paper bag. Best thing to hope for is a minority government then and early election where MF win an overwhelming number of votes.

[topt]

17 minutes ago, Ginner said:

The pound has gained 6 points against the Baht.... 39 to the £ at the end of June. Now 45 to the £ as of this morning.

Not sure where you got 39 from. Lowest in last 60 days was 42.171 interbank and over 43 for all of June......

Main reason I think is strength of GBP vs $US

[poppysdad]

The pound has gained 6 points against the Baht.... 39 to the £ at the end of June. Now 45 to the £ as of this morning.
 

On 29th June I got 45.02 so where you got your facts from heaven knows. More posts without any checks on what you post seems common these days. 

[NicoBKK]

1 hour ago, DjSilver said:

We need Thai baht to lose value and do it fast. Thailand meeds to stop buying their own currency with gold. That's the only thing keeping it up.

hopefully not, loosing plenty of money here

[Gknrd]

Here we go again.

[Chongalulu]

56 minutes ago, Ginner said:

The pound has gained 6 points against the Baht.... 39 to the £ at the end of June. Now 45 to the £ as of this morning.

That's not what my charts are showing. It was 45baht as now at the end of June 

[Brickleberry]

The Baht has been gaining on the dollar for the last few days... Do they know something we don't? 34.5 right now, yet just week it was 35.8

 

I think we are all in agreement that there's no way Pita is going to be elected as the PM, yet the Baht is rising like one of Bezos' cock-shaped rockets. What's going on?

[RichardColeman]

Funny they did not use the headline - 'Previous Junta and unelected senators wreak havoc on Thailand's democracy push'

[mrfill]

2 hours ago, Ginner said:

The pound has gained 6 points against the Baht.... 39 to the £ at the end of June. Now 45 to the £ as of this morning.

You mean June 2020 of course...

[h90]

2 hours ago, Purdey said:

Peta has been very disappointing. Couldn't plan his way out of a paper bag. Best thing to hope for is a minority government then and early election where MF win an overwhelming number of votes.

Why would you need a minority government? PTP could build a normal coalition, with or without MFP.

I doubt in a new vote MF will win the same amount of vote....but I could be wrong

[stix40]

What do we want 

50 baht / £

When do we want it ?

[KannikaP]

1 hour ago, Brickleberry said:

I think we are all in agreement that there's no way Pita is going to be elected as the PM

You might be in agreement with some others, but ALL, no way.

[sambum]

4 hours ago, Ironmike said:

Here's a simple solution why not give the people what they legally voted for and get rid of all these stupid old men just bankrolling their own bank accounts, before something bad happens

What a good idea! I wonder if anybody else has thought of that?

[zzaa09]

When these folks speak of a private sector, do they mean corporate sector? 

[grego49]

1 hour ago, stix40 said:

What do we want 

50 baht / £

When do we want it ?

And 30 to the Aussie dollar,,,,

[still kicking]

2 minutes ago, grego49 said:

And 30 to the Aussie dollar,,,,

Dream on

[whiteman]

KIWI IS ON THE MOVE UP

[Cabradelmar]

5 hours ago, DjSilver said:

We need Thai baht to lose value and do it fast. Thailand meeds to stop buying their own currency with gold. That's the only thing keeping it up.

More likely, they are draining their dwindling foreign currency reserves to artificially prop up the baht... we'll see how long they can keep it up, but if democracy fails, the peoples vote is disrespected, and they seat a minority coalition government, it could spiral 

 

[stix40]

1 hour ago, grego49 said:

And 30 to the Aussie dollar,,,,

Way hay and up she rises

[Frankie baby]

The back room unseen dormant ministers who have been riding the pay-roll for decades were never going to accept change, especially change that could see them all binned.

[Brickleberry]

20 hours ago, KannikaP said:

You might be in agreement with some others, but ALL, no way.

I was right, wasn't I? Lol!