ID :
108846
Sat, 02/27/2010 - 13:59
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http://m.oananews.org//node/108846
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Thaksin Supreme Court decision: Private sector believes peaceful protests won’t disrupt Thai economy
Private sector believes peaceful protests won’t disrupt Thai economy
BANGKOK, Feb 27 (TNA) -- Thailand’s private sector is optimistic that only peaceful rallies which will be held next month by anti-government protesters following Friday’s verdict given by the Supreme Court’s Criminal Division for Holders of Political Positions to seize the assets of fugitive, ousted prime minister Thaksin Shinawatra will not negatively affect national economy, according to leading businessmen.
Payungsak Chartsuthipol, vice president of the Federation of Thai Industries (FTI), said impact on the country’s economy would be minimal if no violence takes place during rallies next month. Industrial operators are now watching only on safety of their plants and employees.
Mr Payungsak said foreign investors are now concerned that Thai political turbulence on a short-term basis might affect their investment plans in this country on a long-term basis.
The global economy, he said, has started to recover. Coupled with a steadily increase in domestic consumption and rising prices of agricultural produce are expected to help expand the Thai economy this year, probably higher than a forecast projected by the Thai government.
Pornsil Patchrintanakul, deputy secretary-general of the Thai Chamber of Commerce, said that plans by the anti-government United Front for Democracy against Dictatorship (UDD) to rally in the capital on March 12 “could be tolerated by the private sector if it is peaceful. Violent demonstrations will negatively impact the Thai economy which is in the process of recovering.
"The economy, especially the tourism industry," Mr Pornsil said, "will be most severely impacted”.
The UDD leaders announced that their supporters nationwide will rally in Bangkok beginning March 12, claiming that one million persons will the protest at Sanam Luang on the morning of March 14 to oust the Abhisit Vejjajiva government from office.
The planned rally follows the Court action Friday on Bt46 billion of seized assets from Mr. Thaksin from the entire Bt76.6 billion in his frozen assets as they were “accumulated as ill-gotten gains”.
The judges said the remaining assets valued at Bt30.2 billion will be returned to Mr Thaksin and his ex-wife Pojaman na Pombejra for the sake of fairness as the Court agreed they were acquired before Mr. Thaksin became prime minister in 2001.
Thanawat Palavichai, director of University of Thai Chamber of Commerce (UTCC) Economic and Business Forecast Centre, said many people are watching to see whether any violence occur in the March 12 rally.
“People are slowing down spending on everything, including buying new houses, due to political uncertainties”, said Mr Thanawat. (TNA)
BANGKOK, Feb 27 (TNA) -- Thailand’s private sector is optimistic that only peaceful rallies which will be held next month by anti-government protesters following Friday’s verdict given by the Supreme Court’s Criminal Division for Holders of Political Positions to seize the assets of fugitive, ousted prime minister Thaksin Shinawatra will not negatively affect national economy, according to leading businessmen.
Payungsak Chartsuthipol, vice president of the Federation of Thai Industries (FTI), said impact on the country’s economy would be minimal if no violence takes place during rallies next month. Industrial operators are now watching only on safety of their plants and employees.
Mr Payungsak said foreign investors are now concerned that Thai political turbulence on a short-term basis might affect their investment plans in this country on a long-term basis.
The global economy, he said, has started to recover. Coupled with a steadily increase in domestic consumption and rising prices of agricultural produce are expected to help expand the Thai economy this year, probably higher than a forecast projected by the Thai government.
Pornsil Patchrintanakul, deputy secretary-general of the Thai Chamber of Commerce, said that plans by the anti-government United Front for Democracy against Dictatorship (UDD) to rally in the capital on March 12 “could be tolerated by the private sector if it is peaceful. Violent demonstrations will negatively impact the Thai economy which is in the process of recovering.
"The economy, especially the tourism industry," Mr Pornsil said, "will be most severely impacted”.
The UDD leaders announced that their supporters nationwide will rally in Bangkok beginning March 12, claiming that one million persons will the protest at Sanam Luang on the morning of March 14 to oust the Abhisit Vejjajiva government from office.
The planned rally follows the Court action Friday on Bt46 billion of seized assets from Mr. Thaksin from the entire Bt76.6 billion in his frozen assets as they were “accumulated as ill-gotten gains”.
The judges said the remaining assets valued at Bt30.2 billion will be returned to Mr Thaksin and his ex-wife Pojaman na Pombejra for the sake of fairness as the Court agreed they were acquired before Mr. Thaksin became prime minister in 2001.
Thanawat Palavichai, director of University of Thai Chamber of Commerce (UTCC) Economic and Business Forecast Centre, said many people are watching to see whether any violence occur in the March 12 rally.
“People are slowing down spending on everything, including buying new houses, due to political uncertainties”, said Mr Thanawat. (TNA)
