Private sector supports Paetongtarn as new PM

The Thai private sector believes that Paetongtarn Shinawatra, leader of the ruling Pheu Thai Party will seamlessly continue the government’s policies if she is elected as the new Prime Minister in the Parliament’s vote on Friday.

The Pheu Thai Party’s executive board voted on Thursday to nominate former prime minister Thaksin Shinawatra’s daughter Paetongtarn as its candidate to become Thailand’s 31st prime minister.

Paetongtarn and Chaikasem Nitisiri are the two remaining eligible Pheu Thai PM candidates after the Constitutional Court on Wednesday voted 5:4 to remove Srettha Thavisin as prime minister for lack of integrity.

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI) said on Thursday that despite Paetongtarn being relatively new to politics compared to Chaikasem, being a young generation person will be a strength, not a hindrance.

Paetongtarn, 37, entered politics over a year ago as one of Pheu Thai’s three PM candidates.

“Paetongtarn can help form a link between the new and old generations in Thailand. Most importantly, she is backed by former PM Thaksin, who has been her closest coach,” he said.

Kriengkrai said the FTI believed that under Paetongtarn’s leadership, most policies put forward by the Pheu Thai-led government will continue as planned, but probably not all, as the political and economic situations have changed.

He added that the dismissal of Srettha will also be a lesson for Pheu Thai to not do anything that could have legal repercussions.

Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said that after the new PM vote on Friday, the Pheu Thai-led government will likely continue most of its economic policies to restore confidence among Thai and foreign investors.

Sanan added the coalition parties’ ratio of ministers in the new cabinet will likely remain the same.

The TCC chairman said he hoped that the new cabinet would be formed as soon as possible to avoid creating a vacuum in administration and budget disbursement. He also hoped that the government would continue to boost Thailand’s competitiveness at the international level and negotiate for free trade agreements with more partners to boost the export sector.