Prayut tenure ruling a boon for Thai economy, says TCC chief


Business leaders hailed General Prayut Chan-o-cha’s restoration as prime minister as a big boost for the Thai economy on Friday.

Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said the Constitutional Court verdict earlier in the day would spur the confidence of both domestic and overseas investors. The government could now get back to work, approving budgets and making policy decisions, he explained.

The court ruled that Prayut had not served his maximum eight-year term as stipulated in the current charter and could remain as prime minister until 2025.

“That is a positive sign for efforts towards economic recovery as the work can now resume. The prime minister can return to work and has full authority, as before,” Sanan said.

Also, the Thai delegation at the Asia-Pacific Economic Cooperation (Apec) summit, to be held in Bangkok in mid-November, would have full power to enter into agreements with other member states, he said.

Sanan voiced concern however about “political issues outside of Parliament”, which he said should be followed closely.

Referring to possible protests against Prayut following the court verdict, he called on the government to show patience and compromise while avoiding the use of force.

Sanan also serves as chairman and president of Srithai Superware Plc, the world's largest melamine manufacturer.