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Thimphu [Bhutan], August 23: Thailand's National Assembly on August 22 voted to approve Pheu Thai Party candidate SretthaThavisin as the new prime minister.
Reuters reported that Mr Srettha won more than 375 votes needed in a bicameral session of parliament, ending a three-month stalemate since the May 14 general election. The Progressive Party (MFP) won the most votes after the general election, but its candidate Pita Limjaroenrat did not win enough support in the vote on July 13. Pheu Thai, which came in second in the general election, has allied with 10 other parties, not including the MFP but with the presence of military-aligned parties, to form a government.
Brand new face
Mr. Srettha (60 years old) is a new name in Thai politics, despite being a famous real estate giant. Coming from a family with roots in the business world, he worked for Procter & Gamble (P&G) Consumer Goods Group in Thailand after earning a master's degree in business administration from Claremont Graduate School (USA). He co-founded Sansiri Company, one of Thailand's largest real estate developers. He ran the company for decades before stepping down in April to enter politics.
Mr. Srettha only joined Pheu Thai in 2023 as an adviser to PaetongtarnShinawatra, daughter of former Prime Minister Thaksin Shinawatra. During yesterday's vote, some MPs said not much is known about Mr. Srettha other than that he "builds houses to sell", according to the Bangkok Post. Despite his lack of experience in government, MrSrettha's political rise is said to have been welcomed by most business circles. His career path is similar to that of Thaksin, who was a "tycoon" of the telecommunications industry before becoming prime minister.
Challenges of the new prime minister
MrSrettha said his priority was to stimulate the economy and close the gap between rich and poor. Before joining Pheu Thai, he made public comments on politics on social media, advocating for LGBT rights and protecting the sustainable environment. Mr. Srettha is the announcer of Pheu Thai's "digital wallet" program, under which the government will deposit 10,000 baht (6.8 million dong) into the wallet of every person aged 16 and over to stimulate consumption. He will also have to fulfill Pheu Thai's campaign pledges such as raising the minimum wage, subsidizing household income and increasing incomes for farmers to bring economic growth to 5%.
The challenges awaiting Srettha in his new position include a polarized society, an economy struggling to recover and household debt that has risen to a record level of more than 90 percent of gross domestic product. interior. The slowing growth of the Chinese economy has had an impact on the Thai economy, causing damage to the export industry. The country's tourism industry is also affected by the small number of tourists returning from China after the pandemic. On the other hand, the new prime minister will need to balance the interests of conservatives and the military, which is expected to continue to dominate the political scene in the face of the voices of young voters who are gradually moving towards the MFP. One of Pheu Thai 's other commitments is to amend the constitution to make it "more democratic" while keeping the anti-defamation laws in place.
Source: ThanhNien Newspaper