CHANGES IN FINANCE MINISTRY
The most significant shakeup is in the Finance Ministry. Mr Srettha relinquished the finance minister portfolio to his advisor Pichai, who will also serve as DPM.
The 75-year-old recently quit as the chairman of the Thai Stock Exchange and was a former senior energy executive.
Meanwhile, Mr Paopoom’s appointment as deputy finance minister makes it one of just two ministries with three deputies.
Observers said this is a sign of the emphasis the Srettha administration is placing on the ministry to accelerate economic growth.
The ministry is also tasked with implementing the government’s digital wallet initiative, which gives a 10,000 baht (US$270) top-up to eligible Thai citizens to help stimulate the economy.
“Srettha is focused on economic development… these policies might help (him and his party Pheu Thai) win the elections next time,” said Assoc Prof Punchada Sirivunnabood of Mahidol University.
Having a new full-time finance minister focused solely on economic policies, as opposed to the prime minister helming the role previously, will also be useful for Thailand, said observers.
Mr Pichai, who brings more than 20 years’ experience in the financial and business world, is seen to be an asset to his new position.
“He has a very good understanding of the financial market, of energy policies. He is also a very good accountant. We can be more confident that the economy will be better,” said Assoc Prof Attasit.
EXPECTATIONS FOR NEW FOREIGN MINISTER
Some observers remained concerned about gaps left in the Foreign Ministry following the sudden departure of Mr Parnpree.
“The (next) person in this position has to be someone who is (knowledgeable about) not just the region, but geopolitics across the world – war, economy, diplomacy, etc,” said Assoc Prof Punchada.
She added that the role is particularly urgent due to neighbouring Myanmar’s political crisis, which has at times spilled over their shared border.
“What’s going on in Myanmar will absolutely affect Thailand,” she said.
Mr Parnpree headed a national committee on tackling the Myanmar crisis affecting Thailand.
He had also initiated a proposal to ask the Association of Southeast Asian Nations (ASEAN) to consider convening a “troika plus” meeting on Myanmar.
