The anti-government protesters′ plan to “shutdown” Bangkok on 13 January may cost the country enormous economic damages, deputy president of the Federation of Thai Industry (FTI) has warned.

Since Bangkok serves as the headquarters for many Thai and Southeast Asian businesses, any prolonged disruption in the city would greatly harm the economy in the short and long term, Mr. Kriangkrai Thiannukul said.

According to Mr. Kriangkrai, many foreign investors are considering to transfer their investments to Thailand’s neighbouring countries to avoid the ongoing political turmoil. Many of them are also aware of possible escalation of the crisis and are turning toward other suppliers in other countries.

“Private sector is preparing to handle the Bangkok’s shutdown by moving their offices outside of Bangkok temporarily, and conducting their shipments at other ports and airports outside of Bangkok”, said Mr. Kriangsak.

FTI Deputy President also stressed that Thai Private Sector is demanding the People′s Committee for Absolute Democracy With the King As Head of State (PCAD) and the government to engage in peaceful dialogue about the future of the country.

Mr. Kriangkai added that the private sector will hold a meeting regarding the current situation next week.

“We are ready to be a mediator for the government and the anti-government groups. This should yield a better solution instead of shutting down the capital city”, he said.

Mr. Kriangkrai emphasises that if the situation is escalated, the country will be damaged on a catastrophic scale.

via Bangkok Shutdown Will Cost Thailand ’20 Billion Baht’ : Khaosod Online.

Meanwhile, Singapore Airlines reported the number of passengers on flights to Bangkok has dropped 40 percent to 60 percent, leading the airline to cancel at least one flight due to the political situation while other airlines are waiting for the results of the disruption before making a decision, Bangkok Biz News reported.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Moody’s affirms Thailand’s Baa1 rating and keeps outlook stable

The affirmation of the Baa1 ratings reflects Moody’s expectations that Thailand will continue to display economic resiliency to future shocks, underpinned by its large and diverse economy and strong macroeconomic policy effectiveness.

Thailand’s Fastest-Growing Industries as the Nation Makes a Comeback

Tourism is being enabled greatly by foreign tourists being given a quarantine waiver, with an anticipated 5.5 million people set to visit the country this year. It’s an increase on the initial forecast, but still short of 2019’s 40 million foreign tourists.

Bangkok Moves Up to 6th in Global Ranking of Convention Cities

The top 10 convention cities for 2021 are Paris, New York, Singapore, Beijing, Tokyo, Bangkok, London, Barcelona, Istanbul, and Washington. In Asia-Pacific, the top 10 are Singapore,