The Nation: Abhisit vows to be business friendly

[NewsBot]

In his first economic announcement, Abhisit Vejjajiva, leader of the Democrat Party, yesterday pledged to....

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[ATMwalking]

He said the party would abolish the Bank of Thailand's 30-per-cent reserve requirement and halt the process to amend the controversial foreign business law if the Democrats are elected as the new government in the general election.

Before an audience of around 300, Abhisit was trying to make the point that his party would pursue investment-friendly policies and a different strategy from the current government. He said capital controls and the amendment of the foreign business law had sent the wrong signal to investors.

It is expected the Democrats will form the core of the next coalition government, with the People Power Party - still loyal to ex-prime minister Thaksin Shinawatra - in opposition.

I've mentioned this before. In terms of getting elected, these pro-foreigner (well at least less anti-foriegner) statements won't get them votes. It could actually do them some harm. And this isn't the first time they have made these statements. This is why I think they actually mean it. Further why I think there could be a bit of a turn-around post-election.

Of course this all depends upon a smooth election, smooth transition of power, and the Democrats not having a fragile minority government.

For now we are just in wait and see mode until the new year.