Business leaders tell politicians to quickly accept the results of the election
Representatives of Thailand's private sector are pleading with all political parties to accept the results of the general election so that the country can move forward.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce, said that it is important to respect the voice of the majority so that Thailand can progress democratically.
"The Thai Chamber of Commerce expects all sectors to accept this election’s results," he said.
The new cabinet could be formed by a coalition government in which several parties join forces, Sanan said.
If the formation of a new government is delayed, it will have a damaging impact on both confidence and economic growth, particularly among foreign investors, Sanan said.
"If a government is formed quickly, it will be able to steer the country and respond to the current economic situation in a timely manner. The primary goal is to be able to agree on the coalition's work guidelines and policies without any conflict or instability," he explained.
Kriengkrai Thiennukul, president of the Federation of Thai Industries, said this general election is a critical turning point in Thai politics: It will determine the future direction of the economy.
The private sector expects a Cabinet to be established as soon as possible so that there is no vacuum in the country's administration, Kriengkrai said.
He advised the next government to consider the economic policies of other parties and to raise people's living standards and reduce production costs, particularly electricity bills.
The high cost of electricity is an urgent issue to resolve so that industries across the country can keep growing, he said.
He said the federation wants the next government to develop and improve infrastructure in order to support economic growth. As a result, Thailand's ranking in terms of the ease of doing business will rise, he said.
Kriengkrai called for a more open government, saying Thailand would become stronger if the government gave the public and private sector greater opportunity to participate and contribute ideas.
A spirit of collaboration will enable all people to work together creatively towards common goals for a better Thailand, he said.
Aat Pisanwanich, director of the Centre for International Trade Studies at the University of Thai Chamber of Commerce, said the new government will have an impact on the country's economy in the third quarter of this year.
If the coalition parties remain the same, the country's key national policies and administration will remain the same. As a result, no major changes are expected.
A new government will generate new investment confidence and spending, Aat said.
There will be no political turmoil after the election and a peaceful transition will boost Thai and foreign investment, resulting in increased spending, he said.
