Confidence in Thailand boosted after curfew lifted : FTI
June 16, 2014 00:00 By
Confidence is growing among the business community and investors after the nationwide curfew was revoked on Friday, said the Federation of Thai Industries (FTI)'s chairman Supant Mongkolsuthree on Monday.
The lifting the curfew boosted the confidence and also facilitated nighttime businesses in Thailand as it has demonstrated there are no violent situations in the country, he said.
Supant said that Thai and foreign investors who have business in Thailand now have more confident, while investors from abroad have more confidence in Thailand.
They are now awaiting economic stimulation and investment-related measures from the National Council for Peace and Order (NCPO).
The FTI wanted the NCPO to effectively stimulate the national economy, restore confidence, and guarantee transparency and good governance.
He foresees the Thai economy to grow by 2.5-3 per cent this year and urges the quick disbursement of government budgets, while predicting that Thai tourism should pick up in the second half of this year.
He expected the Board of Investment to consider a backlog of investment projects proposed for promotional privileges within 3-4 months. Planned investment in the projects is estimated at about Bt700 billion.
FTI vice chairman Vallop Vitanakorn said the NCPO's action to lift the curfew helped restore confidence in the business community and investors, and that investment and tourism would improve.