Businesses Raise Concerns as MFP Leader Suspended from Parliament


The recent order by the Constitutional Court to suspend Move Forward Party (MFP) leader Pita Limjaroenrat from his duties as a member of the House of Representatives has prompted apprehension within the business sector regarding potential street protests and the impact on the economy.

Nath Vongpanich, president of Central Restaurants Group (CRG), acknowledged that while politics does not directly influence the expansion of the restaurant and beverage business, a swift appointment of a new prime minister is desired to effectively manage the country. He stressed that political stability is a crucial factor in attracting foreign investment.

Praphon Potivorakhun, deputy managing director of Mitsubishi Electric Kang Yong Watana, expressed concern over the possibility of street protests and their potential negative impact on the country’s economic recovery. He warned that a domestic economic slowdown, combined with an unstable political situation, could deter foreign investment in Thailand.

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), expects the Pheu Thai Party to lead a new government and initiate economic plans.

Despite these political developments, Kriengkrai expressed confidence as long as the process of establishing the new government adheres to the timeline. The FTI anticipates a new prime minister will be appointed during the third parliamentary voting session. Kriengkrai highlighted that any delays caused by political conflicts, including street demonstrations by Pita’s supporters, would raise concerns. Such delays could impact new investment plans and budgeting for the upcoming fiscal year.

According to the FTI, many business leaders are awaiting the composition of the new government and its policy direction before making decisions regarding their investment projects. Additionally, Thailand needs to expedite the budget planning process to stimulate economic recovery.

The preceding is a press release from the Thai Government PR Department.

Goongnang Suksawat
Goong Nang is a News Translator who has worked professionally for multiple news organizations in Thailand for many years and has worked with The Pattaya News for more than four years. Specializes primarily in local news for Phuket, Pattaya, and also some national news, with emphasis on translation between Thai to English and working as an intermediary between reporters and English-speaking writers. Originally from Nakhon Si Thammarat, but lives in Phuket and Krabi except when commuting between the three.