ID :
112027
Wed, 03/17/2010 - 09:48
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http://m.oananews.org//node/112027
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Protests, Map Ta Phut problems to affect long-term investment
BANGKOK, Mar 17 (TNA) – The ongoing political rallies and the suspension of investments in the Map Ta Phut Industrial Estate, if persistent, will have an impact on long-term investment in the country, according to a top banker.
Krung Thai Bank president Apisak Tantiworawong said that foreign investors might lose confidence and decided to shift to other countries if the mass rally by the anti-government Red Shirt demonstrators drags on and the Map Ta Phut problems are not addressed.
Local investors might slow their investors as could be witnessed by a decline in an extension of loans for long-term investment, he said.
The situation might have an impact on production in the three to 10 years ahead, he said, resulting in a decline in the production capacity, which could make Thailand lag behind other countries.
Mr. Apisak, who is also chairman of the Thai Bankers Association, added the baht had strengthened to 32.42 baht to the dollar, which is the strongest in 21 months.
The currency appreciation stemmed from the foreign capital inflow into the Thai stock market and other Asian markets.
It showed that foreign investors are still confident in the Thai economy although there were a series of political protests.
Should the baht strengthen too much, however, it would affect the export sector, he said. (TNA)
Krung Thai Bank president Apisak Tantiworawong said that foreign investors might lose confidence and decided to shift to other countries if the mass rally by the anti-government Red Shirt demonstrators drags on and the Map Ta Phut problems are not addressed.
Local investors might slow their investors as could be witnessed by a decline in an extension of loans for long-term investment, he said.
The situation might have an impact on production in the three to 10 years ahead, he said, resulting in a decline in the production capacity, which could make Thailand lag behind other countries.
Mr. Apisak, who is also chairman of the Thai Bankers Association, added the baht had strengthened to 32.42 baht to the dollar, which is the strongest in 21 months.
The currency appreciation stemmed from the foreign capital inflow into the Thai stock market and other Asian markets.
It showed that foreign investors are still confident in the Thai economy although there were a series of political protests.
Should the baht strengthen too much, however, it would affect the export sector, he said. (TNA)
