Martial law revocation expected to boost Thai tourism

BANGKOK, April 1 (TNA) - An experienced analyst says that the interim Thai government's revocation of the martial law enforcement, expected soon, should boost domestic tourism. Paiboon Narintarangkul, President of the Investment Analysts Association and Chairman of the Federation of Thai Capital Market Organizations, told a seminar on investment strategies, organized by TISCO Wealth in Bangkok on Wednesday morning, that the revocation of the martial law should benefit domestic tourism because foreign insurance firms would insure travels of international visitors to Thailand, which would restore confidence in the Kingdom among international tourists and tour operators and, thus, stimulate domestic tourism. Paiboon opined that Section 44 of the Provisional Constitution could be exercised in place of the martial law in order to permit necessary actions to ensure national order. Paiboon assessed, however, that the Stock Exchange of Thailand (SET) should continue to be bearish until the new Constitution takes clear shape and the Thai economy recovers. Paiboon foresaw that SET would slow in the first half of this year with its support zone at 1,450 points and the atmosphere should continue until the outcome of a referendum on the new Constitution is known. Paiboon said if the new Thai Charter is passed and the new general election is set as planned, they should stimulate the Thai stock market in the second half of this year. Paiboon warned investors to also monitor the recovery of the Thai economy, expressing his view that the Bank of Thailand (BOT) might have to further cut its key interest rate to keep the baht weak to stimulate Thai exports and the national economy, as the interim government rejects populist policies. (TNA)