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Pattaya Daily News

15 September 2008 :: 10:09:09 am 42539

Utcc: Lifted ‘State of Emergency‘ Helps Restore Confidence

BANGKOK, Sept 15 - The caretaker government‘s decision to lift the imposition of the State of Emergency Decree imposed in Bangkok two weeks ago will help restore confidence in tourism and investment in the country, according to an academic.
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The State of Emergency Decree imposed in the Thai capital almost two weeks ago by former prime minister Samak Sundaravej following bloody clashes between pro- and anti-government protesters.

Thanawat Palavichai, director of the University of Thai Chamber of Commerce (UTCC) Economic and Business Forecasting Center, said he expected the Stock Exchange of Thailand (SET) will react positively to the lifting of the decree.

He said that confidence in tourism and investment would be restored and boosted to a normal level following the end of the decree.

However, it must be closely monitored who becomes Thailand’s new prime minister and how he copes with the current political standoff is centrally important now, as it can’t be predicted.

Thailand’s ruling People Power Party (PPP) will select a new prime minister on Monday, two days before the name is submitted for nomination to the House of Representatives. Samak Sundaravej was removed from the post by the Constitution Court last week for violating the charter by hosting TV cooking shows.

Should the situation improve, Mr. Thanawat forecast the Thai economy would recover in the fourth quarter of this year.

The academic also said he believed the government’s economic team would remain intact no matter who assumes the premiership.

But if caretaker finance and deputy prime minister Surapong Suebwonglee is entrusted to take the top post of the executive branch, he would be able to oversee the economy more closely. (TNA)

Reporter : PDN staff   Photo : Internet   Category : Thailand News

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