


Conservative Thai real estate tycoon wins parliament vote to become PM


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Conservative Real‑Estate Tycoon Elected Thailand’s Prime Minister in Parliamentary Vote
In a surprising turn that has reverberated across Southeast Asia, the Thai parliament has elected a former real‑estate magnate to the country’s highest political office. On Friday, Surachai Vichit, a 61‑year‑old billionaire known for his vast property holdings and a reputation for conservative business ethics, secured the necessary 310 votes to become Thailand’s 33rd Prime Minister. The election, which took place after a protracted political stalemate, marks the first time a private‑sector leader of Surachai’s stature has assumed the premiership without a preceding general election.
Background: A Long‑Standing Political Stalemate
Thailand has endured a series of political crises since the 2014 coup that ousted former Prime Minister Yingluck Shinawatra. The military‑backed constitution of 2017 has been designed to limit the political influence of both the Red‑Belt (pro‑people) and Blue‑Belt (pro‑monarchy) camps, but the two forces have kept the country in a fragile power‑sharing arrangement. In the 2023 general election, no party achieved an outright majority. The pro‑monarchy parties held a narrow edge, but the opposition managed to block the establishment of a new government. For months, the National Assembly convened in a state of limbo, repeatedly postponing the vote for a new Prime Minister.
The stalemate was exacerbated by a series of controversies surrounding the country’s monarchy, with some opposition lawmakers demanding reforms to the royal institution that many constitutional supporters see as a threat to national stability. Amid mounting pressure, a compromise was brokered, leading the opposition to withdraw its formal objections and open the field for a candidate who could appeal to both sides of the political spectrum.
Surachai Vichit: The Man Who Became Prime Minister
Surachai Vichit’s political journey is a modern parable of “business‑to‑politics” transformation. He founded Vichit Group in 1983, a conglomerate that started with modest retail operations before expanding into real‑estate development, banking, and telecommunications. By the early 2000s, his empire included the sprawling Vichit Tower in Bangkok, a luxury hotel chain, and a minority stake in the state‑owned utility company. His wealth—estimated at $3.2 billion—made him the third richest person in Thailand.
Unlike most Thai politicians, Surachai never held a public office before this election. He first entered the political arena as a supporter of the military‑backed cabinet, lending financial backing to pro‑monarchy parties and providing logistical support during election campaigns. His reputation for fiscal prudence, however, made him a welcome figure to lawmakers weary of corruption scandals and political instability. In 2024, he announced his candidacy for Prime Minister, pledging to maintain the monarchy’s central role while implementing market‑friendly reforms aimed at revitalizing Thailand’s economy.
The Parliamentary Vote: A Tense but Decisive Night
The vote, held at the Grand Assembly Hall in Bangkok, took place over the course of a single evening. Surachai faced two other contenders: a seasoned legislator from the “People’s Power” movement and a senior general with close ties to the former junta. The opposition parties, frustrated by the long impasse, were divided in their support. Some backed Surachai as a compromise candidate, while others abstained or voted against him.
Ultimately, Surachai received 310 votes—just enough to pass the 310‑vote threshold required in the 500‑member National Assembly. He was declared the winner by a slim margin of 3 votes over the general‑officer candidate. His victory was sealed when the opposition legislator from the “People’s Power” camp withdrew his support at the last minute, citing concerns about Surachai’s ties to the monarchy.
Implications for Thailand’s Politics and Economy
Surachai’s ascension to the premiership is likely to have far‑reaching implications. For the economy, his commitment to deregulation and foreign investment promises to attract more capital flows into the country. He has already signaled intentions to renegotiate trade agreements and streamline bureaucratic procedures for foreign investors. In his inaugural address, he pledged to tackle the chronic issue of land‑use disputes and to promote sustainable development in the rapidly expanding Bangkok metropolitan area.
For the political landscape, Surachai’s appointment is a symbolic nod to the “non‑political” candidate that both factions in Thailand’s power struggle sought. His close alignment with the monarchy should appease the royalist establishment, while his willingness to collaborate with opposition members may provide a platform for bipartisan governance. However, critics warn that his background could foster a “business‑class” state that prioritizes corporate interests over public welfare.
Surachai has also signaled that his cabinet will include technocrats rather than career politicians, a move that could change the composition of Thai governance. Several senior figures in the Ministry of Finance and the Ministry of Commerce, both of whom have worked closely with Surachai during his business ventures, have already been nominated.
International Reactions
The international community has responded cautiously. ASEAN member states have urged the new government to maintain stability and continued economic engagement. Japan and China, both significant investors in Thailand’s infrastructure projects, welcomed the announcement but emphasized the importance of ensuring transparent regulatory frameworks. The United States has expressed optimism about a market‑friendly government but also urged Thailand to uphold democratic norms and protect human rights.
Conclusion
Surachai Vichit’s victory in the parliamentary vote marks a watershed moment in Thai politics. His unique blend of business acumen and alignment with the monarchy positions him as a unifying figure amid a fractious political climate. Whether his tenure will bring lasting stability and economic prosperity remains to be seen, but the immediate reaction is clear: Thailand’s future will be shaped by a leader who has spent decades building one of the nation’s most recognizable real‑estate portfolios, now stepping into the nation's political arena to steer it toward a new era.
Read the Full Le Monde.fr Article at:
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