Businesses hope for a smooth transition

Businesses hope for a smooth transition

Stability will spur economic growth

The Bhumjaithai Party holds a press conference after all polling stations closed on Sunday. (Photo by Pornprom Satrabhaya)
The Bhumjaithai Party holds a press conference after all polling stations closed on Sunday. (Photo by Pornprom Satrabhaya)

The private sector is hoping the next government can be formed quickly to prevent the creation of a political vacuum.

Kalin Sarasin, the chairman of the Thai Chamber of Commerce, said business figures want to see the new administration established quickly. "The country needs to move forward and we do not want to see a political vacuum," he said.

The current administration, he said, still needs to press ahead with projects it had lined up prior to the polls -- such as the construction of the high-speed rail and its flagship Eastern Economic Corridor (EEC) project.

Mr Kalin said another political stalemate will harm the country's economic growth because civil servants will not be able to make any decisions in the absence of a government.

He also said the international community is keeping a close watch on the election, and many observers are trying to determine whether peace and order will return after the polls, and whether politicians in the next government will follow through with the promises they made on the campaign trail.

"If the next administration makes a pledge to continue working on existing projects, more foreign businesses will be attracted to invest in the country," said Mr Kalin.

The Thai National Shippers' Council (TNSC) expressed similar hopes, saying that "continuity" will boost investors' confidence.

Ghanyapad Tantipipatong, chairwoman of the TNSC, said that in many overseas countries work on projects that have been approved continues regardless of who wins the top job after the elections.

She also said she wants to see the new government to conclude free trade negotiations with other countries, including the European Union, as the export sector accounts for 65% of the country's GDP.

"However, the private sector is concerned about one campaign promise made by almost all political parties -- that is, raising the daily minimum wage," said Ms Ghanyapad.

Supant Mongkolsuthree, chairman of Federation of Thai Industries (FTI), said businesses want to see the new government established within the next two weeks to allay fears of further political stalemate.

"If political parties can't see eye to eye and take too long to establish a working government, it will have a negative impact on both the country's image, and economic growth," he said.

Mr Supant said that businesses also want to see a government that could ensure order after the polls.

"The FTI believes the new government must be lead by a strong figure who can unite all rival factions for the benefit of the nation," he said.

"We hope that all of these parties will put Thailand's needs before their own."

Similar to Mr Kalin, the FTI chairman said that the next government should follow through with its promises before the poll, and commit to complete the schemes that were green-lighted by the military regime, such as the EEC.

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