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Bangkok Post - Business tributes come with hope
Business tributes come with hope

Business tributes come with hope

Bosses say economy will cope with sad loss

Government House flies the flag at half staff, and has black and white bunting at the gates to mourn the passing of His Majesty the King. (Photo by Thiti Wannamontha)
Government House flies the flag at half staff, and has black and white bunting at the gates to mourn the passing of His Majesty the King. (Photo by Thiti Wannamontha)

Businesses and foreign chambers on Friday offered condolences to Thailand on the passing of King Bhumibol Adulyadej, and expressed confidence that the economy will not be affected by this tragic event as investment and economic activities will continue.

Stanley Kang, chairman of the Joint Foreign Chambers of Commerce, said the chamber and its members extended their deepest condolences to the people of Thailand.

"His Majesty the King contributed a lot to the country and its economy, especially the development of the agricultural sector," said Mr Kang.

He said Thailand has come a long way, becoming one of the leading countries in the region during the 70 years of the King's reign.

Mr Kang said foreign investors remain confident in the country and its strong economy, adding that the tragic news would not have any adverse effect on the overall economy.

The European Association for Business and Commerce (EABC) said in a statement that it stood united with the people of Thailand in mourning His Majesty's passing, and the group's thoughts and prayers were with the Royal Family and the people of Thailand.

"As a revered leader, His Majesty worked tirelessly for his country's development and showed his devotion in improving the standards of living of the Thai people," said the EACB statement.

With a creative spirit and a drive for innovation, he pioneered new technologies that have rightfully received worldwide acclaim, added the statement.

"King Bhumibol will be particularly remembered in Europe for his outstanding commitment to the promotion of sustainable development," said the statement.

"Right now there isn't any significant impact on the Thai economy and I think the government is handling the situation very well," said Rolf-Dieter Daniel, president of the EABC.

Mr Daniel said he encouraged Thailand to continue with the adoption of new technology to help the country regain its competitiveness.

The American Chamber of Commerce in Thailand also expressed its deepest condolences to the Thai people during this sad moment.

"His Majesty will be remembered as a monarch who favoured a close interaction with his people and his land," said the statement.

The King initiated a number of development projects, ranging from farming and irrigation to public health and distance learning, said the statement.

Isara Vongkusolkit, chairman of the Thai Chamber of Commerce, said it was unarguable that throughout the 70 years of His Majesty's reign, King Bhumibol garnered accolades not only from Thai people but also from foreigners for his strenuous efforts for the betterment of Thai people, particularly the underprivileged, through his royally-initiated projects.

"The Thai Chamber of Commerce pledges to continue royal development projects and carry on the projects run under His Majesty's Sufficiency Economy Philosophy to tackle income disparity in society as well as propagate this philosophy to the world," said Mr Isara.

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