Thailand's general election viewed good for more investment

BANGKOK, January 24 (TNA) - The private sector foresees that Thailand's upcoming general election should boost confidence in the nation in the world community, leading to more investment projects in the country. Chen Namchaisiri, Former Chairman of the Federation of Thai Industries (FTI), said that Thailand's clearly-set general election on March 24, 2019, officially announced on on January 23, will restore confidence in the Thai economy among global investors, proposing that the newly-elected Thai government carry out mega-investment projects launched by the incumbent military administration. The former FTI chairman assessed, however, that the upcoming general election should not considerably stimulate Thailand's economic and export growth, which is likely to stand at about 4 per cent and 6 per cent respectively this year amid impacts from such major external risk factors as the ongoing trade war between the United States and China and Britain's exit (Brexit) from the European Union (EU). Bangkok Bank executives' opinions appear to align with those of the former FTI chairman, pointing out that the domestic consumption should also become more active during the ongoing electoral mode. Besides, the Thai government-supported Eastern Economic Corridor (EEC) should particularly welcome the expanding foreign direct investment (FDI) projects, while the Stock Exchange of Thailand (SET) should definitely become more bullish after a newly-elected Thai administration is formed successfully, with the SET index anticipated to reach 1,730 points by late this year, thanks to the more stable domestic politics. (TNA)