Amid a mystifying political situation, with anti-government protesters unsure about whether to give up their whistles, foreign business people are concerned. Despite Thailand's strong competitiveness, they fear the country is gradually losing its appeal to foreign investors because of regular political conflicts. Stanley Kang, chairman of the Joint Foreign Chambers of Commerce in Thailand (JFCCT), talks to Nop Tephaval about the issue.
Kang: Respect the rule of law
What is the stance of the JFCCT on the current political conflict?
The JFCCT hopes to see the rule of law, stable government and an environment that allows business operators to be competitive, employ workers safely, operate smoothly every day and make plans for the future. The current political conflict is an internal Thai challenge and opportunity that needs to be resolved for the good of all citizens, business operators, Thailand and its neighbours. We hope that the conflict can be resolved peacefully and quickly.
What is the current experience like compared with previous conflicts in 2008 and 2010?
As tensions and incidents continue to increase, we are concerned that the events could become as equally damaging for the country and the people.
Did you expect the situation to turn out this way?
Of course demonstrations are part of any democratic society, but we hope they can remain peaceful and respect the rule of law.
Is Thailand still competitive compared with other Asean countries?
Thailand remains competitive but is rapidly placing itself at risk of moving backwards in many areas. The political turmoil has severely affected Thailand's economic and social infrastructure as well as weakening its confidence and competitiveness in trade, industry, consumption, tourism and investment. We already know of members that are establishing new factories and service operations in other Asean countries because these countries are undertaking changes and using them to attract investors, skilled workers and even unskilled workers. This means that while the disputes continue, Thailand is starting to slide backwards against its neighbours and competitors. However, to ensure the leadership of Thailand in Asean, a stable political environment and expansion of its business model in the region are musts.
Compared with other countries in Asean, is Thailand still stable?
Most companies focus on long-term benefits when considering whether to invest in a country. However, as tensions mount and protests continue, foreign investors are becoming increasingly concerned.
Do you have any potential solutions or recommendations to foreign businesses?
The JFCCT would always hope to see political problems resolved peacefully and using calm and logical negotiations. It is in all parties' interests to negotiate and not risk any further outbreaks of violence, school closures, business disruption and reputation damage. We would hope to see that long-term and principle-based agreements can be reached soon, and that the rule of law becomes established and widely respected. Thailand needs to aim to be a growth engine for Asean and be able to influence the region for its citizens' benefit.