Business leaders expect Wednesday's decision by the Constitutional Court to suspend Prime Minister Prayut Chan-o-cha from office to have little impact on the government's administration and its ongoing efforts to spur the country's fragile economy.
The court suspended Gen Prayut while it considers whether he has breached an eight-year term limit for prime ministers, which was laid out in the 2017 constitution. Gen Prayut became prime minister in August 2014.
The court has given Gen Prayut 15 days to respond to his suspension.
Deputy Prime Minister Prawit Wongsuwon is Thailand's interim leader while Gen Prayut is suspended, according to government spokesman Anucha Burapachaisri. Gen Prayut's suspension is expected to last around a month while the court considers its final verdict.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce, said although the premier is suspended from office until the case is decided, the cabinet's meetings and the incumbent administration remain unaffected.
"During the premier's suspension period, people's confidence in the government's stability may be affected," said Mr Sanan. "Yet the government's ongoing efforts to rehabilitate the country's economy and Thailand's scheduled hosting of the Apec meeting is likely to move forward as planned."
He admitted the ruling may prompt some investors to reconsider their investment decisions.
"The most important thing for the business sector is to accelerate confidence in Thailand and rebuild the country's economy this year and next, while tourism is returning and the export sector remains robust," said Mr Sanan. "No matter what happens to the premier, the business sector remains upbeat that the Thai economy can manage growth of 2.75-3.5% as projected."
Chaichan Charoensuk, chairman of the Thai National Shippers' Council, said in the short term, the suspension is unlikely to impact national economic plans, especially for the export sector, as purchase orders are normally made in advance.
He said it is fortunate the fiscal 2023 budget has already been endorsed by parliament, driving forward government spending.
Mr Chaichan said the council hopes the court makes its decision as quickly as possible to address the political vacuum.
Chamnan Srisawat, president of the Tourism Council of Thailand (TCT), said the industry needs to wait for a final court verdict, which is expected next month. He said the situation could affect travel sentiment to some extent as international trade and tourism partners are closely monitoring the situation here, particularly regarding security. If there is unrest in the country during this time, it might raise concern in international markets.
However, TCT is confident the suspension will not create a tremendous economic impact as the government will continue as usual during the new fiscal year, which starts in October, said Mr Chamnan.
BUSINESSES MOVING ON
The suspension will not have a serious impact on businesses, as they have been braced for political uncertainties for months, according to the Employers' Confederation of Thai Trade and Industry (EconThai).
Government plans to increase the daily minimum wage for workers will also proceed as planned, said Tanit Sorat, vice-chairman of EconThai.
"In fact, I view the suspension as a positive factor," said Mr Tanit, reasoning that it will clarify doubts over the role of Gen Prayut while also limiting protests against him. "There will not be a new round of political crisis caused by authorities coming out to stop people's rallies."
He said the tripartite national wage committee will go ahead with its work to consider a pay rise, which is expected to finish this month. The committee's proposal then heads to the Labour Ministry and cabinet for approval. Mr Tanit believes the wage will increase by 5-8%.
