Thai tycoon Anutin takes office as PM after royal endorsement
Veteran bureaucrat Ekniti Nitithanprapas is the top pick to be the next finance minister
[BANGKOK] Thai tycoon Anutin Charnvirakul took office as prime minister on Sunday (Sep 7), after an endorsement from the king started the conservative’s tenure as the nation’s new leader.
“His Majesty the King has endorsed Mr Anutin Charnvirakul to be prime minister from now onwards,” said secretary-general of Thailand’s lower house of parliament Arpath Sukhanunth, reading aloud a royal command in a ceremony at Anutin‘s Bhumjaithai Party headquarters in Bangkok.
Anutin, 58, has previously served as deputy prime minister, interior minister and health minister – but is perhaps most famous for being the architect of Thailand’s 2022 cannabis decriminalisation.
He becomes the kingdom’s third leader in two years, but has taken power with coalition backing conditional on dissolving parliament within four months to hold a general election.
Anutin’s appointment ousted the populist Shinawatra clan’s Pheu Thai party, which has monopolised the top office since 2023 elections but saw their dynasty heiress Paetongtarn Shinawatra sacked as prime minister by court order last month.
Cabinet appointments
On Saturday, Anutin said he intends to nominate a seasoned bureaucrat as finance minister to steer a Thai economy that’s still grappling with the fallout of US tariffs and high household debt.
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Ekniti Nitithanprapas was chosen as he has headed several key departments at the finance ministry, and is a capable professional who can take on demands of the job quickly, Anutin told reporters after a meeting with prospective cabinet candidates in Bangkok.
Auttapol Rerkpiboon, a former chief executive of state-controlled energy behemoth PTT, will become the new energy minister, while veteran diplomat Sihasak Phuangketkeow will head the foreign ministry, Anutin said.
Ekniti, 53, will shoulder the responsibility of driving the economy along with Vitai Ratanakorn, who is set to take over as the next Bank of Thailand governor on Oct 1. Some media earlier reported that the central bank’s outgoing governor Sethaput Suthiwartnarueput was among the candidates being considered for the finance role.
The challenges awaiting Ekniti include a sputtering economy, hit particularly by US President Donald Trump’s trade war, a downturn in the vital tourism sector and the highest household indebtedness in South-east Asia.
The economy is forecast to expand about 2 per cent this year, less than half the pace of growth expected for regional peers such as Indonesia and the Philippines.
Anutin, a conservative politician with royalist credentials, will head a minority government after he won the prime minister vote with the support of the pro-democracy People’s Party – the largest bloc in parliament. He has promised to call fresh elections within four months of taking office and initiate steps to rewrite the constitution.
His move to pick technocrats to lead key ministries is a positive sign, said Burin Adulwattana, managing director and chief economist of the Kasikorn Research Centre.
“Ekniti has had a lot of experience at the Finance Ministry and understands its work well, particularly on tax matters,” Burin said. “His appointment would ensure continuity during the government’s short tenure, rather than bringing in someone new to the role.”
Ekniti currently heads the Finance Ministry’s Treasury department and sits on the boards of TMB Thanachart Bank and PTT Exploration & Production – posts he would need to relinquish to join the Cabinet. He holds a master’s degree in economics from the University of Illinois and a doctorate from Claremont University.
The new government will implement policies that can benefit the population, Anutin said when asked if he would reintroduce a co-payment programme that was popular during the pandemic to stimulate consumption.
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