Srettha Thavisin for PM? Why business mogul could be trump card for Thailand’s Pheu Thai party
- Real estate tycoon rumoured to be among prime ministerial candidates opposition Pheu Thai Party will field for next year’s general election
- Srettha, who advocates equality and fair access to economic opportunities and education, has been viewed as refreshing by many
Thai real estate tycoon Srettha Thavisin has often made headlines for his business deals and forthright remarks on issues from climate change to geopolitics and LGBTQ issues.
When not selling luxury houses or condominium units for property developer Sansiri which he runs, he shares his views on Twitter, garnering an audience among the young and urban middle class.
But it is Srettha’s criticism of the Prayuth Chan-ocha administration that has made the suave 59-year-old billionaire a household name.
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Srettha, rumoured to be among the prime ministerial candidates put forward by the opposition Pheu Thai Party – backed by Thaksin – for the general election next year, has so far given no hints about his candidacy.
However, the clearest confirmation yet came last week as a Twitter user mentioned Srettha, “If you are with the Pheu Thai I will elect the Pheu Thai”, before Srettha replied, “I am with the Pheu Thai”.
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The Prayuth government’s term ends next March and observers are hopeful a change in Thailand’s politics would bring about true reform.
Post-Covid recovery, the energy crisis, political divide and the legitimacy of power, all against the backdrop of an ageing society, have widened the economic and social gap in Thailand and affected its competitiveness, critics say.
Srettha, who advocates equality and fair access to economic opportunities and education, has been viewed as refreshing by many. He has said he will aim to fix the economy and cost of living, as well as amend the military-backed 2017 constitution to better reflect voices in society, should he have the chance to lead the country.
“I try to make sure that my comments are constructive,” Srettha said when asked by local media whether his remarks had sparked hope among the Thai people. “I hope the government heeds my advice.”
His comments have earned praise, with one saying “this kind of vision could bring Thailand out of crisis”, while another added “I feel hopeful already”. Observers say his business successes will create confidence as a prime minister who can improve Thailand’s economy.
Thailand is set to hold its general election in May next year and there has been speculation Paetongtarn would announce her candidacy along with Srettha. Under the 2017 constitution, a party can nominate up to three prime ministerial candidates during the election. The senate is expected to influence the Thai parliament’s pick for prime minister, a move seen as undermining Thai voters’ rights.
Pita Limjaroenrat, the 42-year-old leader of the progressive Move Forward Party, was top choice for prime minister in an October poll of Bangkok residents, followed by Prayuth and Paetongtarn. Polls in the north and east, however, favoured Pheu Thai and Paetongtarn.
Thaksin, ousted as prime minister in a 2006 coup, is betting on Prayuth’s poor economic performance and his potential failure to rustle up enough political backing, due to the internal instability of the coalition.
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This week, Prayuth reportedly left the Phalang Pracharat party to run in the next election with his newly formed party. His move was seen as a split from his long-time powerful ally General Prawit Wongsuwan, who is expected to also run for prime minister next year.
Siripan Nogsuan Sawasdee, a political-science professor at Thailand’s Chulalongkorn University’s department of government, said prime minister candidates must be able to deliver policies and be acceptable to key voting segments: the young, rural voters and elites.
“One candidate from Pheu Thai must be able to deliver [economically], which is the party’s strong point,” she said. “However, since Pheu Thai has not executed economic policies for the past eight years, the new generation might not be aware of how the party can deliver.
“The other candidate must be able to maintain the voting base, which is the red shirts, while appealing to the young. I see Srettha as appealing to the middle class and the elites who don’t support the military regime because he is very active on social media.”
Besides using Twitter as a platform for his views and promoting Sansiri’s positive image, Srettha has also spoken out against business monopolies of influential families in Thailand.
“Thailand’s business leaders don’t express their political views as much as they should,” he said earlier this year.
“Business leaders I met preferred to remain silent because they didn’t see the use of speaking up. We want a better society. If business leaders withhold themselves, I think we are not fulfilling our obligations.”
