Worried FTI chief seeks speedy conclusion of court case against Srettha

FTI president Kriengkrai Thiennukul said that although the court had not suspended Srettha from performing his duties as PM, its decision to accept the petition of 40 senators had already created risks that damaged the confidence of Thai and foreign investors.

Six out of nine constitutional court judges voted to accept the petition to review whether Srettha had breached the charter and political ethics by appointing Pichit Cheunban as PM’s Office minister despite questions about his qualification.

Five of the nine judges voted not to suspend Srettha from duty.
“Risks now exist and they affect confidence,” Kriengkrai said.
He said before the court made a decision, many investors in Thailand and abroad and many foreign diplomats had started to inquire with him about the likely scenarios from the case.

“At that time no one could give a clear picture. But now it has become clear after the court accepted the petition and this has caused more worries among investors,” the FTI chief said.

“Many called me to inquire about it. This showed concerns among investors so the case unavoidably affected confidence [in the government] as no one knows how the case will unfold. Now, we have to anticipate the outcome of the case and during the trial, everything will be at risk.”

Kriengkrai cautioned that the case would affect all the government projects proposed by Srettha during his foreign trips to secure investment for Thailand.

“Everybody will monitor this report because it’s a big issue and every investor will be concerned more or less, thus affecting confidence [in the government],” the FTI chief said.

He said foreign investors might defer their decisions or investments pending the outcome of the case.
He said the case should be decided soon so that the worries of the investors are resolved in a short period.