As reported in newspapers yesterday, foreign chambers threatened that international investors would pull out their investments because of the amendments to the Foreign Business Act.

The Asian Wall Street Journal ran a piece which gave the feeling that the military-installed government is looking inward.

Then the stock exchange experienced another huge fall yesterday out of fear that the economy will suffer severely from any change in the law.

Echoing the fear was the comment from veteran securities broker Kongkiat Opaswongkarn, who said the economy would suffer a major negative impact.

Deputy Prime Minister and Finance Minister MR Pridiyathorn Devakula insisted that the Cabinet would consider the draft amendments. And hours later, it approved them.

Commerce Minister Krirk-krai Jirapaet then had to host a long press conference. Earlier, he said foreigners were too panicky and that they should see the provisional clause and understand the limited impact. Judging from the chambers' reaction, can we assume that the foreigners had not seen the clause before the ministry submitted the draft to the Cabinet yesterday?

Even in newsrooms, many were perplexed about the impact of the amendments. What would happen to Kularb Kaew and Shin Corp? What would happen to those companies under nominee investigation?

Certainly, it will take days for the dust to settle.

On reflection

I received interesting responses to yesterday's column. Frank Maunder, a foreigner who works in Thailand, said: "With respect to 'Streetwise', it seems marvellous that achara_d can be so certain that wealthy tourists will behave well, while poorer tourists can always be expected to behave badly. I personally am not a tourist … I guess travel to certain destinations in Thailand should be closed to me and others of my ilk."

Hmm, I have to admit the column was too general. I didn't mean that Thailand should shut its doors to all backpackers. We welcome all kinds of travellers, as long as they share the feeling that we should nurture the environment for the younger generation's sake, but not those who urinate into the sea and don't even stop when caught on camera. In this case, wealthy tourists are more welcome, as they would never behave like that for fear of getting photographed.

achara_d@nationgroup.com