New government, political stability to draw foreign investment

“Finally having a new PM is a positive sign for the stock market,” he said, adding that some foreign investors responded positively to the royal endorsement of the country’s 30th prime minister Srettha Thavisin on Wednesday.

“Many foreign investors have readied funds to buy Thai stocks,” he pointed out. “They are now waiting to see the new cabinet and their economic policies to determine which sectors they should invest in.”

The Stock Exchange of Thailand (SET)’s Manpong Senanarong added that in the past five years, the service industries have shown the biggest profit growth and therefore have the potential to attract foreign investors.

Industries such as tourism, transport and commerce are reporting growing profits and expansion, especially in soft-power businesses such as cinema, sports, and spas, said Manpong, who is senior executive vice president of SET’s…