Thailand’s private sector on Monday voiced support for the government’s plan to enforce the Internal Security Acts (ISA) March 11-23 to maintain law and order during the Red Shirt’s weekend demonstration as a precautionary measure.
Board of Trade of Thailand and Thai Chamber of Commerce deputy secretary-general Pornsilp Patcharintanakul said he agreed, speaking personally, with the government’s planned application of the security measures to prevent possible disruption during the Red Shirt rally.
If the government waits too long and uses the security acts after violence occurs, Mr Pornsilp said, the situation may become chaotic and more difficult to control as happened in April last year.
Mr Pornsilp said the ISA is expected to be applied in specific areas where anti government Red Shirts from the United Front for Democracy against Dictatorship (UDD) will protest. He said it would not impact foreign investor confidence.
If the demonstration calls for democracy, there will be no problem, as that is acceptable among the business community.
“Businessmen don’t want violence, fighting and turmoil because it would cause [economic] losses and tarnish the country’s image. While the Thai economy is currently recovering”,
Mr Pornsil said, if political unrest occurs, it will have negative impact on investor confidence as well as the tourism industry.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
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