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Published on October 22, 2007

Against the backdrop of the Democrat Party's theme "Thailand Back to Business", Abhisit spoke through a hands-free microphone to make the presentation of his party's platform. He moved freely around the stage, using power points and slides.

The event was a one-man show. Korn Chatikavanij only moderated from the sidelines.

The session was meant to convince voters that the Democrats are capable of managing economic problems.

Of course, the party has a large number of hard-core fans but there are also many who believe  the Democrats are more suitable as the opposition.

Abhisit opened by apologising to his 300 guests for providing them only with drinking water.

"Sorry, this is the safest way," he said. "I have discussed this with the Election Commission

and they won't allow

me to give you anything more."

Then he launched into his monologue.

Abhisit outlined the global economy, comparing Thailand's competitiveness

to China's and Vietnam's. Then he pledged to boost

the country's economic growth by implement-

ing investor-friendly

policies.

The new government will revoke the 30-per-cent capital-reserve requirement and halt the process of amending the foreign business law.

He promised to make the economy grow by 7 to 8 per cent. Guests reacted with applause.

"See how the market reacted!" Korn said after the big speech. "Before Abhisit made his presentation, the SET Index dropped by one point. But after he finished the speech, the SET regained six points.

"Although I asked you to turn off your mobile phones, I wonder if any of the guests here sent out a message on what Khun Abhisit said to the outside."

However, during the Q&A session, Abhisit faced tough questions from the floor. If capital controls were revoked, what measures would curb the rise of the Thai baht? How can Democrat policies be realised in a coalition government?

A lady also raised a burning question: "Your policies are possible if the government can complete a four-year term but everybody now expects the government to last a year and a half at best."

If guests in the room did report to their friends outside after the Q&A session, the final closing of the SET Index might serve as an indicator of investors' confidence in Abhisit's speech.

On Thursday, the SET

Index fell 7.78 points to 876.75.

Jeerawat@nationgroup.com