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CHATRUDEE THEPARAT
Despite the political standoff, the government will carry on its economic programme unchanged to retain investors' long-term confidence, Finance Minister Surapong Suebwonglee said yesterday.
He said the second meeting of the policy committee of economic ministers scheduled for Sept 15 to consider economic issues and the impact of the escalating political conflict would be held as planned.
Regardless of political uncertainties, the government would also continue to move ahead with its investment in megaprojects, said Dr Surapong. Plans for a conference for investors about the government's megaproject programme on Oct 10-12 at the Queen Sirikit National Convention Centre remain unchanged.
''Regardless of political change, the megaprojects should be carried forward as planned because the projects will benefit the country's development and strengthen the kingdom's competitiveness in the long run,'' said Dr Surapong.
However, he accepted that the political standoff had affected the investment climate and hit tourism in the short term. Hotel occupancy in the Sukhumvit area is now only 10% and private consumption has been dampened.
''We believe the impact will be only in the short term. It's the government's duty to administer to prevent long-term impacts,'' said Dr Surapong, who is also a deputy prime minister.
''The government needs to assure investors that the Thai government will protect the rules and principles widely accepted in a democratic system.''
He added that abandoning these rules and principles could cause investors to lose confidence and defer investment in Thailand.
''Though Government House has been taken over by the People's Alliance for Democracy, the government is still able to continue running the country,'' he said.
In response to calls from the private sector to lift the state of emergency, Dr Surapong said the order would be lifted as soon as possible once political tension had eased.
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