Private sector reacts positively to martial law imposition: Thailand

[webfact]

Private sector reacts positively to martial law imposition



BANGKOK: -- The imposition of martial law by the Army will help calm the country’s political tense climate and will be good for the economy in short term.

This was what businessmen felt when they met at a special board meeting of the Thai Chamber of Commerce Wednesday to discuss the situation after martial law was declared.

The chamber called a special board meeting in the wake of Army chief General Prayuth Chan-ocha imposed martial law, and there was riding concern that it might further deepen the conflicts and economy will turn real recession.

They also agreed the nomination of a new prime minister will bring peace and order to the country, which will be good for the economy in the short-run.

However, they viewed that the imposition of martial law might not be good for the country’s economy in the long run and suggests it should be lifted before September.

Chairman of Thai Chamber of Commerce Issara Vongkusolkit said business operators feel relieved under the martial law. They feel the country is now being protected.

He said most members of the Chamber of Commerce members viewed martial law positively, reasoning that its enforcement would help create a sense of confidence that the political situation would not escalate into violence.

He said the business sector wanted a new government that had full power to run the country as soon as possible so that the economy could activate as now global economy is recovering.

Thai Frozen Foods Association president Poj Aramwattananont expressed the belief that the imposition of martial law would not affect Thailand’s export situation.

He forecast 5% export growth this year, fulfilling the growth target set by the Ministry of Commerce.

Nopporn Thesitha, Thai National Shippers’ Council chairman also said the private sector views the imposition of martial could yield greater benefit than loss.

Although foreigners might wonder if it could lead to violence, but the private sector saw it a measure to prevent and stop the violence.

In another development, Mr Boonchai Chokwatana, president of Sahapat Group, Thailand’s leading consumer goods producer, said the company’s sales have dropped by 10-15 percent due to the political crisis.

He said prolonged street protests in Bangkok have affected people’s shopping mood and their purchasing power while purchasing power of those in other provinces, especially farmers, has also been affected by the government’s delay rice payment to farmers.

Mr Boonchai said the sentiment of shoppers this year depends mainly on the political situation.

Source: http://englishnews.thaipbs.or.th/private-sector-reacts-positively-martial-law-imposition/

-- Thai PBS 2014-05-22

[ChrisY1]

I'm amazed that the Chamber of Commerce thinks that the imposition of Martial Law is ok for Thailand..........

We can see that it is at least something that may bring about some level of stability....but imagine the chaos to businesses and industry if this were to happen in any western country...?

Edited May 22, 2014 by ChrisY1

[chainarong]

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I'm amazed that the Chamber of Commerce thinks that the imposition of Martial Law is ok for Thailand..........

We can see that it is at least something that may bring about some level of stability....but imagine the chaos to businesses and industry if this were to happen in any western country...?

Long term members of the Chamber of Commerce will know all about military coups, that's the only time in recent decades when Thailand has been stable, very

unstable with Thaskins Thai Love Thai and Yinglucks PTP , so what dose this tell everyone.

[Asiantravel]

I'm amazed that the Chamber of Commerce thinks that the imposition of Martial Law is ok for Thailand..........

We can see that it is at least something that may bring about some level of stability....but imagine the chaos to businesses and industry if this were to happen in any western country...?

Not only that you don't have to be Einstein to work out what colour shirt these people probably wear

[stickyrice2000]

Great news! Let's just have the army run the country and stop having the elections. Thailand will have stability for eternity under martial law.

Edited May 22, 2014 by stickyrice2000

[ggt]

Whenever facing martial law...it is indeed...your best option...to react positively...your life could depend upon it...

[Ulic]

I guess you are getting what you wished for. I hope you will be happy in 6 months. I cant really see how martial law and

curfews will help the tourist industry. It may help manufacturing by driving down the value of the baht. We shall see

what comes to pass over time.

[rametindallas]

I'm amazed that the Chamber of Commerce thinks that the imposition of Martial Law is ok for Thailand..........

We can see that it is at least something that may bring about some level of stability....but imagine the chaos to businesses and industry if this were to happen in any western country...?

It is quite possible that many, who are against this move by the military, will publicly side with the military's action. Especially at this early date it would be a good move to stay on the side of the new power. Pretty sure, that the Chamber of Commerce likes the rise in the SET and the strengthening of the Baht.

Whether anyone supports the army's actions, or not, is a moot point as they have the guns and organization to do just about anything they want. Historic and interesting times ahead. Enjoy the ride and, above all, be safe.

Edited May 22, 2014 by rametindallas