The Federation of Thai Industries (FTI) is closely observing the process of forming a new government and selecting a new prime minister. Despite the uncertainties, the FTI remains optimistic that a new government will be established within a specified timeframe. However, any delays in this process could have significant implications for confidence in the business and investment landscape.
FTI Chairman Kriengkrai Thiennukul stressed the importance of timely government formation to maintain investor and business confidence. As global uncertainties loom, all sectors are eagerly waiting to see the economic measures that the new administration will implement to counter potential challenges.
Cautioning against delays, Mr. Kriengkrai highlighted the potential consequences, including a drop in confidence among investors and businesspersons. He further warned that if manufacturers were to relocate their operations from Thailand to other countries due to uncertainties, it would be an expensive and complex process to reverse.
In this critical time, the FTI chairman called upon supporters of each political party to focus on the common goal and prioritize the country’s best interests. He emphasized the need to avoid any unrest or violence, as such incidents could have severe repercussions, particularly in the tourism sector.
Tourism has been identified as a key economic driver complementing the underperforming export industry. Thailand is expected to welcome 28-30 million international visitors this year, bolstering employment opportunities across various sectors.
The private sector remains cautiously optimistic about the future trajectory of the country, anticipating a new government to unveil measures that will foster economic growth and stability amidst the global challenges.