Thailand elects property tycoon as PM in 3rd vote.docx

By YANG WANLI in Bangkok China Daily Global Updated: 2023-08-23 09:41ThailandelectspropertytycoonasPMin3rdvotef*in+PheuThaiParty'sSretthaThavisin(C),approvedbyThailawmakerstobecomethekingdom,s30thprimeminister,greetssupportersatthepartyheadquartersaftertheparliament'sprimeministerialvoteinBangkokonAugust22,2023.Photo/AgenciesThailand'sthirdvoteforitsnextprimeministeronTuesdayresultedinrealestatetycoonSretthaThavisinbeingelectedasthecountry's30thleaderandalsoThailand'sfirstprimeministerinnearlyadecadewhodoesnothaveamilitarybackground.SretthaistheformerchiefexecutiveofpropertydeveloperSansiri,afamousThaienterprisethatcurrentlyhasavalueofabout$880millionontheThaistockmarket.SretthawastheonlycandidateforTuesday'svoteandisamemberofthePheuThaiparty.ThoughthepartycameinsecondintheMay14generalelection,ittookovertheformationofagovernmentaftertheleadingMoveForwardPartyfailedtogainenoughsupportfromsenators.PheuThai,whichhasacoalitionwith10otherparties,revealeditsallocationofcabinetseatsonMonday.Basedontheallocation,PheuThaiwillgeteightministers,ninedeputyministersandtheprimeminister'sofficeministerposts.ArecentsurveybytheNationalInstituteofDevelopmentAdministrationshowedthatthepubliclargelydisagreedwithPheuThai'sdecisiontoformagovernmentwithitsrivals,leadingtotheresignationofitspartyleader.Nearlyhalfofmorethan1,300respondentssaidtheydisagreedwiththeparty'spushtoincludethemilitary-affiliatedPalangPracharathandUnitedThaiNationpartiesinitscoalition."Nomatterwhat,thosehardcorebelieversofPheuThaiwillstillmaintaintheirfaithtothepartyregardlessofitsnextmove,"SuthiphandChirathivat,emeritusprofessorofeconomicsandexecutivedirectoroftheASEANStudiesCenteratChulalongkomUniversity,said."ButforthoseMFPsupporterswhofeelunhappyaboutthe,betraya,theymayvoicetheirdispleasureinsomeways.”StimulusstepsexpectedAstheformationofthenewgovernmenthasalreadytakensomemonths,stockmarketanalystsexpectthenewprimeministertotakeofficeassoonaspossible,soastobooststocksandenactotherstimulusmeasuresforthecountry,sbusinesssectors."Ifthegovernmentformationrunssmoothly,itshouldrelieveconcernsoverthepoliticalvacuumand2024budget,havingapositivesentimentontheStockExchangeofThailandindex,"AsiaPlusSecuritiessaidinarecentresearchnote.HoursbeforethethirdvoteonTuesdayafternoon,formerThaiprimeministerThaksinShinawatrareturnedtothecountryafter15yearsofself-imposedexile,makingabriefappearanceatDonMueangairportinBangkok.HewastakentotheSupremeCourtuponarrivalandwasorderedtoserveeightyearsforthreeconvictionspassedinhisabsence,relatingtohisformerShinCorpcompany,abankloanandalotterycase.Thousandsofhissupportersandkeypoliticalfigures,mostlyfromPheuThai,welcomedhimattheairport.yangwanli