Finance Minister Korn Chatikavanij is leaving for Hong Kong today for a speech to international investors.
He said he would assure investors that despite political unrest in Thailand, the situation is unlikely to descend to violence and as such the impacts to the economy would be limited.
He told reporters today that the government has so far proceeding with its plans, despite the unrest. He also showed confidence that next week, the Cabinet and House of Representatives should be able to resume the meetings. He also insisted that the Finance Ministry will propose the property and land tax bill to the Cabinet for approval, within the end of March.
So far, the unrest has affected the tourism industry, as some foreign travellers have avoided coming to Thailand for fear of possible dangers.
Korn said that the ministry stands ready to help the tourism industry, and invited the industry to submit their proposals for the needed help.
DBS Vickers Securities (Thailand) said in its research that though the political rally may extend further, impact to the public should not be significant. While chances of sabotage are there, it would be short-lived. It remains confident that the stock market would further rise due to strong corporate earnings in the first quarter and easing political tension.
"We reiterate our view that the demonstration leaders are somewhat concerned on support from Bangkokians as seen from decision to create traffic blocks on Saturday, instead of a weekday, so as to lessen impact to the people. This suggests that a harsh measure is unlikely to be used, which is a positive sign."
