August 22, 2023

Thai Property King Srettha Thavisin Elected as Prime Minister

Thai Property King Srettha Thavisin Elect as Prime Minister. Real estate magnate Srettha Thavisin received support from the Thai parliament on Tuesday. August 22, 2023 to become prime minister of Thailand . Srettha’s election paved the way for a new coalition government and ended weeks of uncertainty and political stalemate. Srettha, was thrust into the spotlight a few months ago by the populist Pheu Thai Party. He has the support of more than half of MPs. The same day, billionaire party mogul Thaksin Shinawatra returned to Thailand after years of being a fugitive in exile. New politician Srettha is a former head of property company Sansiri. He will be task with forming and unifying a potentially fragile coalition. The coalition will include parties backed by the royalist military, which toppled the Pheu Thai government in 2006 and a 2014 coup.

Among those ousted was former telecommunications tycoon and Premier League football club owner Thaksin Shinawatra who fled into exile.

Thaksin was jail in absentia in 2008 for abuse of power and conflict of interest. The government led by her sister, Yingluck Shinawatra was also overthrown in a coup in 2014. Thaksin, 74 years old, returned to Thailand today. He receiv a rousing welcome from supporters at Bangkok airport, before being escort by police to the Supreme Court and then to prison to serve eight years. First the return of Thailand’s most high-profile politician and Srettha’s rise to the top job will add to speculation that Thaksin may have struck a deal with his enemies in the military and institutions to allow his safe return. First thaksin may also be releas early.

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Tuesday’s events represent the latest twist in a nearly two-decade power struggle between Pheu Thai, which has won five elections, and conservatives, generals and wealthy families who have long wielded influence in politics and the economy. Srettha was declar by Pheu Thai as a candidate for prime minister, along with Paetongtarn Shinawatra, Thaksin’s youngest daughter, ahead of the 14 May 2023 elections. The Pheu Thai Party took second place as the election winner.