ID :
143962
Tue, 09/28/2010 - 09:52
Auther :
Shortlink :
http://m.oananews.org//node/143962
The shortlink copeid
Cancellation of 3G auction shakes investor confidence, says FTI
BANGKOK, Sept 28 – A court decision to issue an injunction suspending the planned auctioning of Thailand's third generation (3G) network system has shaken confidence among foreign investors keen on investing in Thailand because they fear they could face legal barriers and regulatory risks if they invest here, according to Federation of Thai Industries (FTI) chairman Payungsak Chartsutipol.
He said the delay in approving granting the 3G licenses could make Thailand lose opportunity and affect many businesses and people, particularly those living in rural areas, who cannot access information by hi-speed Internet at an affordable price.
By cancelling the auction, Thailand could lag behind other countries.
Because of this, the FTI wants the government to step up efforts to eliminate regulatory risks to restore investor confidence.
Regarding the continued strengthening of the baht, Mr. Payungsak said the state sector, particularly the Bank of Thailand, should be clear regarding whether it will oversee the baht or not.
Should the central bank continue hinting the baht will strengthen further, the currency will move in that direction, reducing revenue earned by exporters and eroding domestic purchasing power as well.
However, Mr Payungsak affirmed the stronger baht had not yet negatively impacted employment nor caused any businesses to close or suspend operations. It had just made incomes and profits earned in the private sector decline. (MCOT online news)
He said the delay in approving granting the 3G licenses could make Thailand lose opportunity and affect many businesses and people, particularly those living in rural areas, who cannot access information by hi-speed Internet at an affordable price.
By cancelling the auction, Thailand could lag behind other countries.
Because of this, the FTI wants the government to step up efforts to eliminate regulatory risks to restore investor confidence.
Regarding the continued strengthening of the baht, Mr. Payungsak said the state sector, particularly the Bank of Thailand, should be clear regarding whether it will oversee the baht or not.
Should the central bank continue hinting the baht will strengthen further, the currency will move in that direction, reducing revenue earned by exporters and eroding domestic purchasing power as well.
However, Mr Payungsak affirmed the stronger baht had not yet negatively impacted employment nor caused any businesses to close or suspend operations. It had just made incomes and profits earned in the private sector decline. (MCOT online news)
