Union hold-ups seen as hazard to development

Private sector displays politics Tourists see the Grand Palace in Bangkok on Sunday. With tourist and domestic intake pacing the economy, the JSCCIB forecasts Thai development of 3-3.5% this year. (Photo: Apichart Jinakul) The personal sector is worried that Thai GDP development might decrease to 1-2% if the development of the brand-new federalgovernment is postponed from the timeline by 6 months or more. Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, stated the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) is tracking politics and waitingfor a brand-new federalgovernment. If the brand-new federalgovernment can be set up by August, it would reinforce self-confidence amongst Thais, company operators, and regional and foreign financiers, stated Mr Kriengkrai. However, if the brand-new federalgovernment development is postponed for 1-3 months, it might moisten organization and financier self-confidence, he stated after the panel conference on Wednesday. If the hold-up is more than 6 months, it might effect foreign financialinvestment in Thailand, with abroad financiers moving their focus to local rivals, stated Mr Kriengkrai. “If the brand-new federalgovernment development is postponed and leads to presentations, it would effect the self-confidence of financiers and visitors. In this circumstance, it might seriously damage the Thai economy, cutting the GDP development rate to 1-2%,” he stated. Thai B
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