Real estate magnate Srettha Thavisin secured the support of Thailand’s parliament on Tuesday to become the country’s new prime minister, ending weeks of political uncertainty and stalemate.
Srettha, a newcomer to politics who gained prominence through the populist Pheu Thai Party, garnered the backing of more than half of the legislature. This significant development coincided with the historic return of Thaksin Shinawatra, the billionaire figurehead of the party, who had been in self-imposed exile for years.
Srettha, formerly the president of property developer Sansiri, now faces the challenge of forming and maintaining a potentially delicate coalition government. This coalition will include parties supported by the royalist military, which orchestrated coups in 2006 and 2014, leading to the overthrow of Pheu Thai governments.
Among those ousted during these coups was Thaksin, a former telecoms tycoon and owner of a Premier League football club. He fled into exile and was sentenced in absentia in 2008 for abuse of power and conflicts of interest. His sister, Yingluck Shinawatra, led a government that was ousted in the 2014 coup.
Thaksin, now 74, received an enthusiastic welcome from supporters at a Bangkok airport upon his return. However, he was subsequently escorted by police to the Supreme Court and then to jail to serve an eight-year sentence.
These developments have fueled speculation that Thaksin may have reached an agreement with his military and establishment adversaries, potentially securing his safe return and an early release from jail. Thaksin and Pheu Thai, however, deny these allegations.
These events mark the latest chapter in a nearly two-decade-long power struggle between Pheu Thai, which has won five elections, and a coalition of conservatives, military figures, and wealthy families that have wielded significant influence over Thai politics and the economy.
Srettha was declared a prime ministerial candidate by Pheu Thai, alongside Paetongtarn Shinawatra, Thaksin’s youngest daughter, ahead of the May 14 election, in which Pheu Thai finished second. An attempt to form a coalition with the election winner, the progressive Move Forward Party, faced staunch resistance from conservative members of the lower house and military-influenced Senators, ultimately collapsing.
