By Susan Cunningham
Digital News Asia
FOLLOWING months of sporadic protests, the most significant event in Thailand’s year, business or otherwise, was its 12th military coup on May 22 and the installation of a military-controlled government. Unlike the two most recent coups, in 1992 and 2006, General Prayuth Chan-o-cha doesn’t plan an imminent return to electoral democracy, despite pressure from Western governments.
In the meantime, an appointed committee with no popular participation is in the process of writing the country’s 20th constitution. One of the junta’s first acts post-coup was to cancel planned auctions of spectrum licences that would enable 4G wireless broadband services throughout the country. There are also signs that the junta might do away completely with spectrum auctions, now required by broadcasting law.
Consumer and tourist confidence along with computer sales began to revive mid-year, though external factors dampening exports will likely continue in the new year. Overall, growth in the information and technology sector was flat in 2014. Not surprisingly, only two major investments in Internet startups took place prior to the coup: A Softbank Ventures equity stake in an online games company, and a venture capital score by bookseller Ookbee. MORE